The "Dollar Drain" and American Forces in Germany

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The "Dollar Drain" and American Forces in Germany

By Gregory F. Treverton
Ohio University Press, 1978
220 pp. $12.00

The fixed exchange rate regime and the persistence of America's balance-of-payments deficits in the 1950s and 1960s seriously affected the bargaining structure within the NATO alliance as the U.S. government pressured the Federal Republic of Germany to offset the costs of stationing American troops abroad. The complex politics of security and finance, especially in the mid-1960s, are analyzed in this penetrating study of the interstices of domestic and international affairs. The author cautions that the "separate tracking" of political and economic issues will no longer be possible in NATO, but he also warns against "package deals" that bundle together multiple issues as unwise policies for managing the alliance.

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