The German Currency Crisis 1931

Discussion in 'Prewar' started by CL1, Feb 6, 2019.

  1. CL1

    CL1 116th LAA and 92nd (Loyals) LAA,Royal Artillery Patron

    5th June 1931
    Chancellor Brüning visits London, where he warns the British Prime Minister Ramsay MacDonald that the collapse of the Austrian banking system, caused by the bankruptcy of the Creditanstalt, has left the entire German banking system on the verge of collapse. Germany suspends payment of World War I reparations and, despite declaration of the Hoover Moratorium, there is massive withdrawal of domestic and foreign funds from German banks, which by mid-July have all closed.[2]
    1931 in Germany - Wikipedia

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