868.51/8–1845: Telegram
The Ambassador in Greece (MacVeagh) to the Secretary of State
[Received August 18—1:50 p.m.]
866. In broadcast speech Aug 17 Deputy Prime Minister Varvaressos reviewed progress his economic program. Following is literal translation portion speech:
“Today I am in the fortunate position of being able to announce that the question of foreign aid has been settled.
The American Govt itself invited us to submit an official request for the granting of credits by the Import-Export Bank. The request has already been submitted for 250 million dollars and we are certain that it will be accepted. These credits will be used for the purchase in the United States of all items indispensable to the restoration of our economy. We have requested machines and materials for the reestablishment of our ports, of the Corinth Canal, of the railway network, of roads, of structures, of materials for the reconstruction of cities and devastated villages, of rolling stock and other means of transport, of animals for agriculture, in other words everything which we need for our economic recovery.”
Varvaressos added UNRRA will spend nearly 300 million dollars aiding Greece by end of 1945 and will continue 6 months beyond that. For purposes comparison he stated: [Page 233]
“If we realize that the total of our public debt does not exceed 300 million dollars we will understand the extent of the assistance granted our country. In the space of a single year, we shall have received more than we have borrowed under onerous conditions and with so much difficulty during a full century.”
He also said Greece can obtain still further aid from International Bank for Reconstruction soon to be constituted.