There is little reason to doubt that the Truman Doctrine was the direct result of the British announcement to the Americans on 21 February 1947 of the almost immediate withdrawal of financial aid to Greece. The Truman, Doctrine, in turn, is generally accepted as the real beginning of the Cold War; at least it is the declaration of full American involvement. What is not so definite is the British motivation for their withdrawal of aid. It is commonly assumed to have been the result of severe British financial difficulties in February 1947. In hindsight, this is highly credible because of the fuel crisis of that month and its effect on the export programme, as well as the approaching exhaustion of the American loan. It then follows that the British Labour government abandoned Greece at a time when its own continuation was in danger.
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Robert Frazier (1984) studied this question.
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