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Biographies
Adenauer, Konrad
Bruening, Heinrich
Cuno, Wilhelm Carl Josef
Ebert, Friedrich
Erhard, Ludwig
Goering, Herman
Groener, Karl Eduard Wilhelm
Hitler, Adolf
Kohl, Helmut
Marx, Wihelm
Merkel, Angela Dorothea
Schmidt, Helmut Heinrich Waldemar
Speer, Berthold Konrad Hermann Albert
Stressman, Gustav
Wirth, Karl Joseph
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Economy
History of Germany

              


1916
Groener, Karl Eduard Wilhelm
Takes over control of the war economy from Ludendorf when the Kriegsamt is established
1921
Wirth, Karl Joseph
Sep An economic crisis grips Germany which causes runaway inflation and ends additional reparations installments
4th Nov German currency begins to collapse
1922
Cuno, Wilhelm Carl Josef
Allied governments grant Germany a temporary moratorium on reparations payments in the hope that their economy would recover and enable the resumption of regular installment payments, France bitterly opposes the moratorium
1922
Ebert, Friedrich
Oct France is willing to accept raw material instead of currency for German reparations
1923
Ebert, Friedrich
Ruhr Occupation of the Ruhr leads to hyper-inflation
Ruhr The Republic claimed it could no longer afford the reparations payments required by the Versailles treaty, and the government defaulted on some payments, in response, French and Belgian troops occupied the Ruhr
15th Nov Ruhr A new currency, the Rentenmark, is introduced at the rate of 1 trillion (1,000,000,000,000) Papiermark for 1 Rentenmark. At that time, 1 U.S. dollar was equal to 4.2 Rentenmark
1923
Marx, Wihelm
Ruhr The Republic claimed it could no longer afford the reparations payments required by the Versailles treaty, and the government defaulted on some payments, in response, French and Belgian troops occupied the Ruhr
Jan Ruhr At the end of the reparations moratorium, Germany cannot resume payments and defaults, France, accompanied by a token Belgian force, marches into the Ruhr Valley and sets up a military occupation
1923
Stressman, Gustav
Aug To further stabilise the economy Stressman reduces spending and bureaucracy while increasing taxes
13th Aug Six days after the Munich putch a reform of the German currency takes place and the Rentenmark is introduced, this effectively ends inflation
13th Aug Stresemann issues the Rentenmark, to halt the extreme hyperinflation crippling German society and the economy. It was successful because Stresemann refused to issue more currency, the cause of the inflationary spiral
Oct Inflation reaches an all time high, 1 US-Dollar costs 40 Billion Marks
Oct War bonds (which are rated by Reichsmark, not Goldmark like the reparations) can be paid back without problems, savings on banks (or in war bonds) are lost, leading to widespread poverty
15th Nov Old Reichsmark 4,200,000,000 = 1 USAdollar
15th Nov Rentenmark issued; pegged to the Gold Standard; Rentenmark 4.2 = 1 USAdollar; at this time
1924
Stressman, Gustav
9th April The Dawes Plan is put forward to stabilize the economic situation in Europe, to enable the Germans to pay their reparations and the Allies to pay their debts to the US
1927
Marx, Wihelm
13th May Germany's economy collapses
1930
Bruening, Heinrich
Invokes article 48 to impose deflationary policies
1933
Hitler, Adolf
21st Mar The "battle for work" begins
1936
Goering, Herman
Sep Berlin Directs the 4 year economic plan in preparation for War
1939
Speer, Berthold Konrad Hermann Albert
Hitler agrees Speer's request to centralize iron & stell distribution via the GBI
1948
Erhard, Ludwig
20th June Bonn Announces controls over wages, prices & supplies
1950
Adenauer, Konrad
1st Mar Bonn Rationing ends in West Germany, apart from sugar
21st Mar Bonn Advocates economic union with France
1982
Schmidt, Helmut Heinrich Waldemar
Bonn Unemployment rises from 582,000 in 1974 to 1.8 million in 1982
1997
Kohl, Helmut
22nd May Presents the Joint Initiative for More Jobs in Eastern Germany
2006
Merkel, Angela Dorothea
Many economic commentators have referred to the 'Merkel factor', which has apparently caused a rapid rise in consumer confidence and market spending

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