Germany and the Great Depression

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  • Created by: Emily903
  • Created on: 12-06-16 15:23
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  • Germany and the Great Depression
    • From 1924 foreign banks lent huge amounts of money to Germany (mostly from America) which allowed them to build factories and create jobs
      • 1929: buying shares in companies and businesses became popular as people hoped to make a profit and some even borrowed money to do this
        • Many Americans didn't make as much money as they would of liked so decided to sell their shares fast
          • Many people couldn't buy new goods so many firms went out of business and millions lost their jobs
        • But the more they sold, the more the share price dropped and many people had to sell them for less than what they had paid
          • Some couldn't pay back the banks and were left ruined by debt collectors
    • In 1932, Americans could not afford to buy foreign good and soon German factories had to close down and many lost their jobs
      • American banks also demanded back the money that is had lent to Germany leading to the collapse of thousands more German businesses leaving many people homeless; cold, hungry and angry
    • Unemployment in America, Germany, Britain, Italy, Japan and many other countries shot up
    • In Britain, unemployment by 1932 rose to 3 million whilst in Germany it had reached 6 million
    • People once again blamed politicians for their problems as well as the governement


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