OPINION

October 20, 1959

GREECE-USA: New York – Economic circles here describe accusations against Greece from US Treasury Secretary Robert B. Anderson as unjustifiable and unreasonable. According to Anderson, large sums of money granted to Greece by a US loans and development organization were spent on purchasing machinery not from America but from West Germany and Italy. According to these sources, it is regrettable that Anderson chose to attack Greece, which had been almost completely destroyed by fighting on the side of its allies, and had managed, after a two-year struggle, to receive nothing more than a loan for a nitrate factory, whereas at least 40 countries received billions to buy equipment for their factories from Germany, Italy and Japan. Not one of these countries bought supplies from the US because of the high cost. Moreover, Greece had placed its orders with the approval of the US. Anderson, explaining the funding organization’s new policy that supplies bought by recipient states must be bought from the US, used Greece as an example. He said Greece had received a loan of 12 million dollars for the construction of a nitrate factory, most of which it spent on equipment from Italy and Germany.