[Annex]
Draft of Proposed Note To Be Telegraphed to
American Ambassador, Athens, for Presentation51
The United States Government acknowledges receipt of the letter
addressed by Mr. Tsouderos to the Ambassador of the United States in
Athens, submitting suggestions for economic aid to Greece.
The United States Government is mindful of the important
contributions made by Greece to the successful conclusion of the war
and is sympathetically aware of the tremendous devastation visited
on Greece during the period of hostilities. [In
the face of overwhelming odds Greece exhibited a courage in
resistance which served as an example to the liberators who
eventually were able to release Europe from enemy
domination.] The immediate
relief provided to Greece last
winter through Military Liaison and
the current operations of UNRRA represent
efforts [is an
effort] on the part of the United States along with other
Allied countries to repay
Greece
in
part
for [demonstrate
their grateful recognition of] the tremendous sacrifices
she [Greece] has made. Further assistance toward reconstruction
will be afforded through a [$] 25 million
dollar Export-Import Bank loan. By means of this loan Greece will be
able to acquire certain essential supplies as
well
as [and]
equipment.
There is a danger, which should not be ignored, that if energetic
steps are not taken to improve the present internal economic
situation, Greece
will
realize
no
lasting
benefit
from
the
financial
and
material
assistance
which
the
United
States
is
rendering [the
assistance from the U.S. will not produce the lasting benefits
that are hoped for.] An immediate improvement in the
economic situation in Greece should also create an atmosphere favorable to the successful
holding of national elections. Successful Elections accurately reflecting the wishes of
the Greek people should bring about an improved political situation
which is,
of
course,
essential [should
contribute substantially] to long-run economic recovery and
to future stability.
The
difficulties
which
Greece
has
encountered
since
liberation
in
carrying
out
under
emergency
conditions
the
stringent
internal
economic
stabilization
program
now
required
are
in
part
responsible
for
the
slowness
economic
recovery. [The
severe difficulties which Greece has encountered since
liberation can be traced in large part to
[Page 292]
the self-sacrificing heroism with
which the Greek people resisted the common foe. The resulting
emergency conditions have prevented successive Greek governments
from carrying out effectively the stringent kind of internal
economic stability program that is required.] The
Government of the United States is aware that Greece’s burden is a
heavy one [,] and
that
the
causes
of
the
present
distress
are
numerous.
It [but it]
is convinced, however, that the
assistance being extended to Greece can accomplish little toward
economic recovery unless the Greek Government itself undertakes [rigorous] such
a
stringent
program,
which
to
be
effective
would
probably
include measures to control
inflation and to stabilize the currency, to reduce Government
expenditures and to augment revenue, to increase the efficiency of
the Civil Service Administration, and to revive industry and
trade.
The execution of such a program has been the announced intention of
several Ministries which have been in power in Greece during recent
months but in no case has it been possible for them to pursue such a
program to a successful conclusion. It is assumed that the present
Government also has under consideration a [similar] program along
this
line. The extent of possible further
American economic assistance to Greece will necessarily be
influenced by the effectiveness with which the Greek Government pursues
a
firm
program [deals
with the problem] of economic stabilization.
The United States Government has been advised by the British
Government of the latter’s proposal now under discussion with the
Greek Government to send an Advisory Economic Mission to Greece. In
view of the interest which this Government has in the success of the
economic stabilization and recovery of Greece, it welcomes this
evidence of the desire of the British Government to extend advisory
aid to Greece. If Greece should need additional technical
assistance, the United States Government would be prepared, upon
request of the Greek Government, to make available American
technical economic experts to consult on Greek financial and
economic programs. The particular qualifications of any experts
which might be desired could be determined in consultation between
the two Governments, so that they would be best equipped to assist
on those problems which are now most urgent in Greece.
The Greek Government can be assured that the United States Government
is fully aware of the overwhelming
[grave] difficulties which beset Greece.
It hopes, however, that the Greek Government, by taking firm action
and at the same time being confident of outside assistance, will be
able to lead Greece on the road toward economic recovery.
