Flashcards in 1. Impact of the Great Depression on Germany Deck (8)
why was German economy already in risky position before Depression?
Relied heavily on foreign loans to make reparations and for industrial investment
what happened 29 Oct 1929?
stock market collapse sent world into economic freefall.
what did depression cause?
o German trade collapsed, gov unable to secure foreign loans and US demanded loans to be repaid
1931, unemployment peaked at 20%. By 1932, 7 million unemployed in Germany
how come depression didnt cause collapse of democracy?
it created the unique and powerful social and economic circumstances that eventually led to collapse of Weimer republic
Quote by Gustav Stresemann about reliance on foreign loans negative
Germany “lived on borrowed money… if a crisis every hit us… We are not only military disarmed, we are also financially disarmed”
what did depression create in german citizens? what it lead to?
created feelings of desperation and psychological disillusionment within German people -> polarisation of German politics and increasing political violence
What did depression do for Hitler?
Gave Hitler and Nazi Party opportunity to gain support and made possible the behind the scene manoeuvring by conservative elites which would lead to Hitler’s appointment as Chancellor