Money and Security

About this book

"This study examines the connections between the transatlantic security system and the international monetary system during the Cold War. The question of who would bear the enormous cost of British and American troops stationed in West Germany became a contentious issue that burdened relations between the Federal Republic and its major allies from the 1950s to the 1970s. Washington and London saw this cost as a major reason for the decline of their currencies and therefore called on Germany to underwrite or "off-set" these expenses; and West Germany reluctantly agreed to trade money for security. By investigating the linkage between monetary and strategic policy this book demonstrates the crucial importance of domestic politics for the formulation of foreign policy and illuminates transatlantic history during the Cold War from a new angle."--BOOK JACKET.