The Impact of the Great Depression (1929) - Germany

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  • Created on: 02-05-18 15:30
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  • The Impact of the Great Depression (1929)
    • Political impact
      • Many young and unemployed people joined paramilitary groups such as the SA and Rotfront. It gave them a sense of belonging
      • The SPD did not want cuts; the DUP did
      • Industrialists wanted to abandon the welfare state
      • Hindenburg brought in Bruning who supported rearmament
      • Bruning attempted to increase taxes
      • 1930 elections - Nazi popularity rose
      • There was no majority. Bruning ruled more with Emergency Decree
      • Extremist support grew
    • The 1931 banking crisis
      • Kreditanstalt collapsed and people began taking all their money out of banks
      • France cancelled an emergency loan to Germany
      • A one-year period of reparation payment suspension was allowed
      • Bruning was dismissed in May 1932
    • Economic impact
      • America recalled many of its loans
      • By 1929 unemployment was at 2.5 million
      • Unemployment continued to rise
      • By 1932 1/3 of workers were registered as unemployed
      • Poverty increased; government income fell
      • The government could only deal with 800,000 unemployed

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