ISBN: 9780192548139

Germany's financial collapse in the summer of 1931 was one of the biggest economic catastrophes of modern history. It led to a global panic, brought down the international monetary system… Plus…

Germany's financial collapse in the summer of 1931 was one of the biggest economic catastrophes of modern history. It led to a global panic, brought down the international monetary system, and turned a worldwide recession into a prolonged depression. The crisis also contributed decisively to the rise of Hitler. Within little more than a year of its onset, the Nazis were Germany's largest political party at both the regional and national level, paving the way for Hitler's eventual seizure of power in January 1933. The origins of the collapse lay in Germany's large pile of foreign debt denominated in gold-backed currencies, which condemned the German government to cut spending, raise taxes, and lower wages in the middle of a worldwide recession. As political resistance to this policy of austerity grew, the German government began to question its debt obligations, prompting foreign investors to panic and sell their German assets. The resulting currency crisis led to the failure of the already weakened banking system and a partial sovereign default. Hitler managed to profit from the crisis because he had been the most vocal critic of the reparation regime responsible for the lion's share of German debts. As the financial system collapsed, his relentless attacks against foreign creditors and the alleged complicity of the German government resonated more than ever with the electorate. The ruling parties that were responsible for the situation lost their credibility and became defenceless in the face of his onslaught against an establishment allegedly selling the country out to her foreign creditors. Meanwhile, these creditors hesitated too long to take the wind out of Hitler's sails by offering debt relief. In this way, a financial crisis soon developed into a political catastrophe for both Europe and the world. Digital Content>E-books>World History>Europe History>Europe History, OUP Oxford Digital >16<

2019, ISBN: 9780192548139

Debt, Crisis, and the Rise of Hitler, eBooks, eBook Download (EPUB), Germany's financial collapse in the summer of 1931 was one of the biggest economic catastrophes of modern history. It … Plus…

Debt, Crisis, and the Rise of Hitler, eBooks, eBook Download (EPUB), Germany's financial collapse in the summer of 1931 was one of the biggest economic catastrophes of modern history. It led to a global panic, brought down the international monetary system, and turned a worldwide recession into a prolonged depression. The crisis also contributed decisively to the rise of Hitler. Within little more than a year of its onset, the Nazis were Germany's largest political party at both the regional and national level, paving the way forHitler's eventual seizure of power in January 1933. The origins of the collapse lay in Germany's large pile of foreign debt denominated in gold-backed currencies, which condemned the German government to cut spending, raise taxes, and lower wages in the middle of a worldwide recession. As political resistance to this policy of austerity grew, the German government began to question its debt obligations, prompting foreign investors to panic and sell their German assets. The resulting currency crisis led to the failure of the already weakenedbanking system and a partial sovereign default. Hitler managed to profit from the crisis because he had been the most vocal critic of the reparation regime responsible for the lion's share of German debts. As the financial system collapsed, his relentless attacks against foreign creditors and the alleged complicity of the German government resonated more than ever with the electorate. The ruling parties that were responsible for the situation lost their credibility and became defenceless in the face of his onslaught against an establishmentallegedly selling the country out to her foreign creditors. Meanwhile, these creditors hesitated too long to take the wind out of Hitler's sails by offering debt relief. In this way, a financial crisis soon developed into a political catastrophe for both Europe and the world. [PU: OUP Oxford], Seiten: 232, OUP Oxford, 2019<

2019, ISBN: 9780192548139

Debt, Crisis, and the Rise of Hitler, eBooks, eBook Download (EPUB), Germany's financial collapse in the summer of 1931 was one of the biggest economic catastrophes of modern history. It … Plus…

Debt, Crisis, and the Rise of Hitler, eBooks, eBook Download (EPUB), Germany's financial collapse in the summer of 1931 was one of the biggest economic catastrophes of modern history. It led to a global panic, brought down the international monetary system, and turned a worldwide recession into a prolonged depression. The German crisis also contributed decisively to the rise of Hitler. Soon after the crisis, the Nazi Party became the largest party of the country which paved the way for Hitler's eventual seizure of power in 1933. The reason for the financial collapse was Germany's large pile of foreign debt denominated in gold currency which condemned the government to cut spending, raise taxes, and lower wages in the middle of a worldwide recession. As the political resistance to this austerity policy grew, the German government began to question its debt obligations, prompting foreign investors to panic and sell their German assets. The resulting currency crisis led to the failure of the already weakened bankingsystem and a partial sovereign default. Hitler managed to profit from the crisis, because he had been the most vocal critic of the reparation regime. As the financial system collapsed, his relentless attacks against foreign creditors and the alleged complicity of the German government resonated more than ever with the electorate. Sadly enough, Germany's creditors hesitated too long to take the wind out of Hitler's sails by offering debt relief. In 1931,Tobias Straumann reveals the story of the fatal crisis, demonstrating how a debt trap contributed to the rapid financial and political collapse of a European country, and to the rise of the Nazi Party. [PU: OUP Oxford], Seiten: 232, OUP Oxford, 2019<

2019, ISBN: 9780192548139

Debt, Crisis, and the Rise of Hitler, eBooks, eBook Download (EPUB), [PU: OUP Oxford], OUP Oxford, 2019

2019, ISBN: 9780192548139

Debt, Crisis, and the Rise of Hitler, eBook Download (EPUB), eBooks, [PU: OUP Oxford]