Front matter -- ABOUT THIS BOOK -- Contents -- EXPLANATION OF TERMS -- Highlights: WHAT IS THE EUROPEAN RECOVERY PROGRAM (ERP) ? -- PART ONE. MAJOR ECONOMIC AND POLITICAL ISSUES -- 1. Economic Crisis in Europe -- 2. Some Political Aspects -- PART TWO. EUROPE AND HER BALANCE OF PAYMENTS -- 3. Deterioration in Europe -- 4. Dollar Shortage and Foreign Aid -- 5. Exchange Rates and Related Pro -- 6. Balance of Payments of the Participating Countries -- PART THREE. IMPACT ON THE UNITED STATES -- 7. Determinants of Costs and Allocation of Assistance -- 8. The Financial Costs -- 9. Inflation and the ERP -- 10. Shortages in Relation to the ERP -- 11. Economic Recovery? -- Concluding Remarks -- Abbreviation -- SOURCES OF FIGURES -- Notes -- Postscript. THE FIRST SIX MONTHS OF THE ECA -- Index