By Hubert Zimmermann
This examine hyperlinks basic political constructions of the chilly conflict period, the transatlantic protection process and the foreign financial method. principal to this factor is an issue that soured kinfolk one of the Federal Republic and its significant allies from the Nineteen Fifties to the Seventies: Who used to be to endure the big expense of British and American troops in Germany? either Washington and London pointed out this rate as an enormous explanation for the decline of the pound and the buck, while Germany reluctantly paid and traded "Money for Security", a basic development of its postwar overseas coverage.
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Extra resources for Money and Security: Troops, Monetary Policy, and West Germany's Relations with the United States and Britain, 1950-1971: Troops, Monetary Policy, and West ... of the German Historical Institute)
27 The following list is necessarily selective. Additional works on the subject will be referred to throughout: B. W. E. , Sterling in Decline: The Devaluations of 1931, 1949, and 1967 (Oxford, 1983); Alec Cairncross, The British Economy Since 1945 (Oxford, 1992); Alec Cairncross, Managing the British Economy in the 1960s: A Treasury Perspective (Oxford, 1996); J. C. R. Dow, The Management of the British Economy, 1945–1960 (Cambridge, 1970); Alan S. Milward, The European Rescue of the Nation-State (London, 1992), 347–95; Sidney Pollard, The Wasting of British Economy: British Economic Policy 1945 to the Present (London, 1982); Susan Strange, Sterling and British Policy: A Political Study of an International Currency in Decline (London, 1971).
As tensions rose, most Western politicians agreed that a further expansion of the Soviet sphere of influence into Europe had to be countered by all means. “Containment” of Communist expansion worldwide, but above all in Europe, became the central tenet of Western security policies. This strategy, successful in the end, had one great disadvantage: Military security came with a high price tag. Would economic prosperity, the other, probably even more important objective of Western societies, survive another war economy, especially after the recent dislocations provoked by World War II?
The process leading up to the Paris Accords can be interpreted as an enormous multinational sharing of the burden initiated by the United States and the United Kingdom as a reaction to the emerging global conflict during the late 1940s. 3 Its decisive battlefield was Europe. As tensions rose, most Western politicians agreed that a further expansion of the Soviet sphere of influence into Europe had to be countered by all means. “Containment” of Communist expansion worldwide, but above all in Europe, became the central tenet of Western security policies.