We develop the theory of the proximity effect in layered ferromagnetic
metal/superconductor (F/S) structures taking into account finite tran
sparency Of the F/S interface as well as depression of the Cooper pair
ing and diffusionlike motion of conduction electrons by a strong excha
nge field of the ferromagnet. It is shown that the oscillatory depende
nce of the critical temperature on the F-layer thickness is due to ape
riodic modulation of the F/S boundary transparency by the oscillations
of pair amplitude within the F layer. It is possible not only in the
F/S multilayers, but in the F/S bilayers as well. The phenomena of ree
ntrant and periodically reentrant superconductivity in the F/S contact
s and superlattices are predicted. The competition between the ''0'' p
hase and ''pi'' phase types of superconductivity in the F/S multilayer
s is also discussed.