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By the end of 1950 East Germany had paid $3.7 bn of Russia's $10 bn reparations demand. After the death of Joseph Stalin and the June 1953 uprising, the Soviet Union began to return the East German factories it had taken as reparations.
However, in the months of November and December 1989 alone, 4 billion DM was paid out as "Welcome money". [3] On the other hand, West Germans visiting the GDR had to submit to the Zwangsumtausch (or Mindestumtausch), the mandatory exchange of a specified amount of DM per day into the same amount of East German marks. From October 1980 onwards ...
Upon adoption of the Deutsche Mark in East Germany on 1 July 1990, the East German Mark was converted at par for wages, prices and basic savings (up to a limit of M 4,000 per person, except a smaller number for children and a larger number for pensioners). Larger amounts of savings, company debts and housing loans were converted at a 2:1 rate ...
In 1992, the Foundation for Polish-German Reconciliation was founded by the Polish and German governments, and as a result, Germany paid Polish sufferers approximately zl 4.7 billion (equivalent to zl 37.8 billion or US$7.97 billion in 2022 [citation needed]).
The collapse of the East German economy following unification has combined with racism and neoliberalism to feed far right support. How divisions between East and West Germany persist 30 years ...
The merging of the former GDR Eastern States, also known as the New Länder, with West Germany's market produced significant economic pressure on the German welfare state [1] Germany's conservative model welfare state was sustainable under the economic conditions of pre-unification but had trouble accommodating the increased costs associated with the integration of infrastructure, migration ...
When Germany stopped making payments in 1932 after the agreement reached at the Lausanne Conference failed to be ratified, [12] Germany had paid only a part of the sum. This still left Germany with debts it had incurred in order to finance the reparations, and these were revised by the Agreement on German External Debts in 1953. After another ...
Statistics show that Germany's east has done fairly well in catching up with the wealthier west over the past decade but that success has done little to dispel economic pessimism that has helped ...