Schmidt 1974 - 1982

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  • Schmidt 1974 - 1982
    • Economic Crisis
      • Schmidt introduced measures to keep escalating inflation down - 4.7%
      • 150% oil price increase Dec 1979 - May 1980
      • further economic recession
        • lasted until 1982
        • unemployment rose to over 2 million
    • Acts of Terrorism - Mogadishu Incident 1977
      • plane from Mallorca with Germans in was hijacked by Palestinian terrorists & taken to Somalia
      • Schmidt refused to give in & sent in a commando team
      • everyone saved except the pilot
    • Schmidt Resigns Autumn 1982
      • decline of SPD support
      • CDU/CSU new leader Kohl invigorated the party
      • consequently Genscher pulled the FDP out of coalition to form one with CDU/CSU
      • this results in a constructive vote of no confidence
    • Opposition
      • criticised fro pro-nuclear power policy & let US station short-range missiles in FRG
      • split the SPD & many voters defected to the Green Party
    • became Brandt's successor in 1974
      • he was a conservative SPD member with little sympathy for LW of his party
    • critics argue he was a decisive figure for his party
      • perhaps more popular with sections of his party caught in the middle
      • FDP (becoming increasingly fiscally cons.) & rebellious LW of own party
    • some criticise reputation
      • claims he was 'temporarily contaminated' by Nazis & engaged in extra-marital affairs
    • supporters praise powers of critical analysis & objectivity as opposed to Brandt's emotional socialism
      • liked his firm handling of wave of terrorism
    • regarded as an innovator esp. in financial affairs promoting European & Western initiatives to counter global economic problems

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