BRITISH AID TO EUROPE

Press, Volume LXXXIV, Issue 25629, 19 October 1948, Page 5

BRITISH AID TO EUROPE

CONTRIBUTION UNDER MARSHALL PLAN

“SUBSTANTIAL BURDEN” OF NEW AGREEMENT

(N.Z. Press Association—Copyright) (Rec. 8.30 p.m.) LONDON, October 18. “The hard-pressed people of Britain have under the new European economic co-operation agreement taken upon themselves a substantial new burden,” says “The Times” in a leading article. “Besides the 282,000,000 dollars of Marshall aid that they have agreed to pass on to Europe in sterling exports—and the commitment Effects the whole sterling area—they have also agreed to release European sterling balances to a value of more than 200,000,000 dollars. <

Britain’s new commitment demands that the recipients of this aid shall accept the deed in the spirit of its intent. The only real justification for giving France, for instance, the right to import goods from Britain without P ay £ n S f° r them is that France shall be helped to set her house in order and requite this aid by’later exports to Britain.

“The peculiar importance of the new agreement is that the several countries of the Marshall plan are now tied inextricably together. The failings of one will be felt by all.”