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This strategy failed as Germany lost the war, which left the new Weimar Republic saddled with massive war debts that it could not afford: the national debt stood at 156 billion marks in 1918. [3] The debt problem was exacerbated by printing money without any economic resources to back it. [1]
Prosperity was pulled along by exports that reached a record of $1.7 trillion US dollars in 2011, or half of the German GDP, or nearly 8% of all of the exports in the world. While the rest of the European Community struggled with financial issues, Germany took a conservative position based on an extraordinarily strong economy after 2010.
The prestige of Germany and German things in Latin America remained high after the war but did not recover to its pre-war levels. [ 33 ] [ 34 ] Indeed, in Chile the war bought an end to a period of intense scientific and cultural influence writer Eduardo de la Barra scornfully called "the German bewitchment" ( Spanish : el embrujamiento alemán ).
After Germany successfully stabilized its currency in late 1923, France and Belgium, facing economic and international pressures of their own, accepted the 1924 Dawes Plan drawn up by an international team of experts. It restructured and lowered Germany's war reparations payments and led to France and Belgium withdrawing their troops from the ...
The debt limits were enacted in 2009 after the government piled up debt paying to rebuild former East Germany after Germany reunified at the end of the Cold War and when tax revenue dropped during ...
The post–World War I recession was an economic recession that hit much of the world in the aftermath of World War I. In many nations, especially in North America, economic growth continued and even accelerated during World War I as nations mobilized their economies to fight the war in Europe. After the war ended, the global economy began to ...
It was meant to be a fleeting slowdown for Europe's economic powerhouse, followed by a rapid rebound. Instead, Germany has been stuck in neutral for a year with hopes fading for a turnaround, a ...
Estimated to have lost ¼ of its wealth during World War 1, Britain turned to welfare to spark an economic recovery. Reliant on receiving payments of war debts from Germany to stimulate economic growth after the onset of the great depression, the British economy suffered when the United States nullified these reparation payments.