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... satisfactorily for themselves. In this essay I will look at American policies for reconstruction and just how far the Marshall Plan can take credit for the recovery of Europe. Immediately after the war, the USA attempted global approaches to world economic problems. She helped create the United Nations (UN), the International Monetary Fund (IMF) at Bretton Woods and other international organisations. America hoped that her wartime alliances would last and that loans to individual countries would be enough to restore prosperity. However America became concerned with Europe in 1947 when communist threats developed in Greece, Italy and France and post-war recovery faltered. Although most countries were making a recovery by 1946, it was not a balanced recovery and by late 1946 it was becoming clear that full employment and productivity was not achievable. By 1947 most European countries had developed serious payment deficits with the USA and were running short on ...