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Tuesday, May 7, 2013

Germany's effects

   Another country that started their depression shortly after/ because of  WWI. A big downfall for Germany was that they had signed the Treaty of Versailles. This treaty states that they will help other countries with their finances to improve their industries. So, to help other countries, they had to constantly print off their currency. But, in order for a country to print off a certain amount of currency, they must have worth behind it. Since they were printing off so much currency and had very little worth for it, their currency then became worthless. With all this money needed from them, they had to get every last bit, so they went even as far as to take peoples' savings.  So in 1932, Germany's reparations to other countries was suspended. During this time, unemployment went up to thirty percent. When Adolf Hitler took over in 1933, their Depression began to go away, yet a new worry and tragic events began. This is when they began largely manufacturing firearms , which pushed them further into WWII.

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