Division to unity 1949-1991


Economic developments

- Economic growth: country re-established as leading nation, Economic boom then fell in 70's, inherited Rhineland area, Allies listen to German ideas, curency reform, Marshall plan, 5 R's

- Economic miracle and the aftermath: social market economy, unemployment fell, exports strong, Erhard economic miracle, trade boomed, car industry boomed, economy strecthed in 60's, started to experience post-war  boom declining, Stabilisation law of June, funds to improve infrastructure, constitutional change

- EEC/ECU participation: established common polices for agriculture; transport; capital; labour, trade in EEC quadrupled, swept away restrictive practices, EEC renamed EU

- Impact of oil crisis: hit a post-war recession, OPEC doubled price of crude oil, advancied economies relied on the fuel, ban on sunday driving, expenditure cuts and VAT raised, EMS to fix exchange rates, second crisis in 1979 when Iran ocerthrown, more recession and unemployment, overall inflation kept down

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