Problems of Germany's economic miracle

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  • Germany 1945-1950 Problems of the 'Economic Miracle'
    • The Potsdam agreement
      • Decision to treat Germany as 'a single economic unit' was not put into practice
    • Germany had to recover from a loss of 6 mil + territory/ industry in the East.
      • Refugees from the East fled to the West & exacerbated issues
        • Population in W rose to 43.6 mil by Oct '46
        • 'strict rationing system' used to distribute housing
          • $.2 mil shortage of housing units in '52
    • No German officials appointed for finance, transport, comms, foreign trade & industry=low levels of production
      • Even new higher targets set in '47 did not increase poor outputs
    • Economic Council for Bizonia set up in '47 to prevent shortages of supplies
      • 52 German members, under supervision of Anglo-American Bizonal Control Office
      • Exec. committee set up & 5 admin offices for gov.t areas eg forestry
    • Significant improvement in 1948
      • 'Economic Miracle' 20th June
      • Currency reform had exponential success
        • The Marshall Plan had given Germany access to vast funds
        • Independent issuing bank formed to ensure monetary stabilisation
        • Dismantling of industrial plant in British zone stopped and industrial production rose


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