Explain the effects of the great depression in germany

Asked by admin @ 23/08/2021 in Social Sciences viewed by 276 People

Describe any three effects of great depression in germany

Answered by admin @ 23/08/2021

Great
depression in Germany during late 1920s and early 1930s:

Severe
unemployment rate rose up to and more than 20%. Weimer government printed more
currency, thinking that it will solve deficit problems. But the inflation
became hyperinflation. Living standards became terribly low. The economic recovery
became impossible. Weimar Republic faced its worst political and economic
situation.

Severe debt
and financial crisis resulted. America
stopped its financial aid to Germany due to its own Great Depression. Consequently many people withdrew their money from stock markets. Government could not control the economy.

Germans
could not pay back its war reparation dues to the international allies. The Treaty of Versailles was a severe
punishment to Germans. Their rich
territories were taken away from them.

Lower
pricing and supply decisions made by other European countries created a problem
for Germany and its products. So Germany's manufacturers could not sell their products in Europe and elsewhere. So Germany's industrial and agricultural production fell badly.

The various
political and economic measures taken by government failed. Reichstag was
dissolved. General elections were held. Nazi party (NSDAP) and communists rose
higher. A coalition was formed with other parties. Nazi Germany began in 1933
with Hitler swearing in as the Chancellor.

Psychologically
Germans were depressed. They could have won the World War 1. But they lost. All
happenings in Germany and treatment of Germans by other countries made them
gradually very patriotic.

Explain the effects of the great depression in germany

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