Stresemann's Plans
- Created by: Vader26
- Created on: 07-03-22 17:16
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- Stresemann's Plans to Fix the Economy
- Dawes Plan
- Knew Germany could not afford payments
- Persuaded France, Britain and America to change payment terms
- Agreed in Aug 1924
- Named after US vice-President Charles Dawes
- Reparations would go from 1b marks to 2.5b per year in 4 years
- Ruhr to be evacuated (1925)
- Reichsbank would be reorganised
- USA would loan to Germany
- Young Plan
- Although Germany could meet terms of Dawes Plan, regularly complained
- Agreed in 1929
- Produced by American banker Owen Young
- Reparations figure reduced from £6,600m to £1,850m
- Length of time to pay increased to 59 years (2.05b marks per year average)
- Heavily criticised by right-wing politicians such as Alfred Hugenberg and Hitler as they thought Germany should pay nothing
- Rentenmark
- Hyperinflation of 1923 destroyed mark
- Made new currency in November 1923
- Date
- Rentenmark issued in small amounts
- Based on property values
- Next year, Rentenmark converted to Reichsmark
- Dawes Plan
- Plan
- Creator
- Lead-up
- Terms
- Criticism
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