Flashcards in Economic Developments 1924-28 Deck (9)
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1
Q
What was the ‘Great Coalition’?
A
- August 1923
- formed after Cuno’s coalition collapsed
- DVP, Centre, Socialists and DDP
2
Q
Who was Gustav Stresemann?
A
- DVP member
- Chancellor from August 1923 - Nov 1923
- responsible for ending hyperinflation
3
Q
What was Stresemann’s priority?
A
Ending hyperinflation
4
Q
What were the 3 steps Stresemann took to end hyperinflation?
A
- end of passive resistance
- balancing the budget
- issuing a new currency
5
Q
How long was Stresemann in office for?
A
103 days
6
Q
When and why was passive resistance called off?
A
when - September 1923
why - inflation was becoming so out of control, by stopping paying the Rhur workers for resistance, cut government spending
7
Q
How did calling off passive resistance benefit the stabilisation?
A
Reduced government expenditure
8
Q
What was the new currency called?
A
Rentenmark
9
Q
How many Reichsnmark = 1 Rentenmark?
A
1 trillion
