Germany was virtually bankrupt:
- War left 600,000 widows and 2 million children without fathers, so by 1925 the state was forced to spend about 1/3 of its already depleted budget on war pensions.
- National income was about 1/3 of what it had been in 1913.
- Industrial production was about 2/3 of what it had been in 1913.
Germany was now an unstable, democratic republic:
- War stress and anger led to a revolution in October-November 1918.
- Ex-soldiers and civilians hated new democratic leaders and believed that leader Field Marshal Hindenburg had been betrayed by weak politicians.
- Germany was used to having a strong, decisive leader, so the Weimar Republic was seen as…