Explain the impact of Great Economic Depression on germany
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Economic Depression and its impact on Germany
1. The years between 1924 and 1928 USA gave short-term loans to Germany. This support was withdrawn when the Wall Street Exchange crashed in 1929 in the USA.
2. Fearing a fall in prices, people made frantic efforts to sell their shares. On one single day, 24 October, 13 million shares were sold. This was the start of the Great Economic Depression in the USA.
3. The German economy was the worst hit by the economic crisis. By 1932, industrial production was reduced to 40 per cent, Workers lost their jobs, and number of unemployed touched an unprecedented 6 million.
4. Germans hung placards around their necks saying, Willing to do any work.
5. Unemployed youths took to criminal activities and total despair became common place. The middle classes, especially salaried employees and pensioners, saw their savings diminish when the currency lost its value.
Hope it will helps you:-)
1. The years between 1924 and 1928 USA gave short-term loans to Germany. This support was withdrawn when the Wall Street Exchange crashed in 1929 in the USA.
2. Fearing a fall in prices, people made frantic efforts to sell their shares. On one single day, 24 October, 13 million shares were sold. This was the start of the Great Economic Depression in the USA.
3. The German economy was the worst hit by the economic crisis. By 1932, industrial production was reduced to 40 per cent, Workers lost their jobs, and number of unemployed touched an unprecedented 6 million.
4. Germans hung placards around their necks saying, Willing to do any work.
5. Unemployed youths took to criminal activities and total despair became common place. The middle classes, especially salaried employees and pensioners, saw their savings diminish when the currency lost its value.
Hope it will helps you:-)
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Great Depression led to economic crises in Germany. By 1932, industrial production was reduced to 40 percent of the 1929 level. As a result, jobs were cut and many workers became unemployed. Wages of the employed workers were also reduced
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