What was the impact on Germany because of its refusal to pay war compensation in 1923?
Answers
Answered by
11
When Germany refused to pay war compensation, the French occupied its leading industrial region, Ruhr. Germany retaliated with passive resistance and printed paper currency recklessly. With too much currency in circulation, the prices of goods soared. This led to hyperinflation, a situation when prices rise phenomenally high.
Eventually USA intervened and bailed Germany out of the crisis by introducing the Dawes plan and later the Young plan.
Hope this helps
Please mark brainliest
Eventually USA intervened and bailed Germany out of the crisis by introducing the Dawes plan and later the Young plan.
Hope this helps
Please mark brainliest
Answered by
2
Hey mate here is your answer》》
By 1929 Germany had rebounded to become a prosperous country but was still paying millions of dollars in compensation for world war I.
However, 1929 was turning point as the Great Depression of the US reached Europe. Germany was not able to secure loans from US banks and thus found it hard to make compensation payments.
On the other hand, the economy was worsening, unemployment was rising and people were moving toward right-wing populous movements.
The US and Germany had a central role in post world war I economics of Europe. Many countries had borrowed money from the US after the war and they were using German compensation to pay off their debts. Germany, on the other hand, was taking loans from the US to pay it's compensation.
Hence, a depression in the US, not only resulted in Germany getting less loans, but subsequently had an impact on all of Europe.
As those countries put more pressure on Germany, the NAZI party quickly took hold, promising people a better life and relief from misery.
Hope this answer will help you..《《
By 1929 Germany had rebounded to become a prosperous country but was still paying millions of dollars in compensation for world war I.
However, 1929 was turning point as the Great Depression of the US reached Europe. Germany was not able to secure loans from US banks and thus found it hard to make compensation payments.
On the other hand, the economy was worsening, unemployment was rising and people were moving toward right-wing populous movements.
The US and Germany had a central role in post world war I economics of Europe. Many countries had borrowed money from the US after the war and they were using German compensation to pay off their debts. Germany, on the other hand, was taking loans from the US to pay it's compensation.
Hence, a depression in the US, not only resulted in Germany getting less loans, but subsequently had an impact on all of Europe.
As those countries put more pressure on Germany, the NAZI party quickly took hold, promising people a better life and relief from misery.
Hope this answer will help you..《《
Similar questions