Wednesday, November 16, 2011

20th century rules and government

Weimar Republic (1918-1933)
The Weimar Republic is referred to as a period in German History between 1918 and 1933 when the government was a democratic republic governed by a constitution that was laid out in the German city Weimar.
-during this time period there was 6 chancellors
-made to replace the imperial government
-officially named Deutsches Reich meaning/translated to the german Empire or Realm
-they wrote a new constitution which was adopted August 11, 1919
-it was over thrown by the Nazis

Hyperinflation in the Weimar Republic
The hyperinflation was a three-year period in Germany between June 1921 and July 1924.  The hyperinflation episode in the Weimar Republic in the 1920's was not the first, nor the only in Europe.  Many of the economic behaviors now associated with hyperinflation were first documented in Germany.  Hyperinflation is widely believed to have contributed to the Nazi takeover of germany and Adolf Hitlers rise to power.
-Dawes plan:
relied on money from US in 1924 but soon realized they couldn't pay back such a large sum of money
-Young plan:
reduced payments to allow better payment plans.  Lowered to a half billion gold marks which in 1929 was about 8 million in the US. now days it is 103 billion.

The Treaty of Versailles
The treaty of versailees is one of the most controversial international agreements.  Many people have tended to blame the rise of the Nazis on versailles.
-financial impact:
the treaty blamed Germany for the first world war.  As a result of this Germany was also held accountable for the cost of the war.  The treaty dictated that compensations would have to be paid to the Allies.  That they would have to make monthly payments that would total 6,600 million Euros.
-Political Impact:
The treaty triggered a number of political reactions.  First, the government of the day resigned, having refused to sign the treaty agreement.  Second, the incoming government had no choice but to sign the treaty.  For doing so, they were accused by some of stabbing the German people in the back.

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