868.51/11–545: Telegram
The Ambassador in Greece (MacVeagh) to the Secretary of State
[Received November 6—7:50 p.m.]
1250. Rankin attended Sunday meeting described mytel 1248, November 5th but limited his participation to questions intended clarify [Page 257] certain points raised. Kassimatis’ proposals mostly sound and differ from British ideas only on such points as exchange and government control. New Greek Government feels urgent need psychological support Allies which would be dramatized by public announcement new credits purchase goods normal trade channels and by supply additional gold. Latter involving outlay under 6 million dollars might have reassuring influence Greek public sentiment far greater than same amount in other form but may be open overriding practical objectives. In any event Eximbank credit reasonable sum would be taken as much stronger evidence continuing US support Greece than equal contribution through UNRRA.
Admittedly present Greek Government temporary but represents effort bring country up to elections under stable conditions which believe worthwhile encouraging in lack of anything better. Certainly desirable not allow present conditions deteriorate further. Psychological effect now announcement Eximbank credit (if such were possible) would be largely vitiated by premature publicity last summer, but appointment small high level mission one to three persons to visit Greece soon on Bank’s behalf would have both moral and practical value; therefore, suggest and strongly recommend early appointment such mission as US contribution psychological support present or succeeding interim governments. Mission also would be most useful in assessing Greece’s real credit needs in light Eximbank policies and in clarifying points raised my despatches 1614, October 1, and 1623, October 2.