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The hyperinflation in 1923 plunged Germany into even deeper financial turmoil as the DM (deutschmark) became even more worthless so the money that the people had was vastly reduced in value. I think that in 1923, Germany refused to pay the reparations but I don't know what happened after that...
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DevinAfter the treaty of Versailles was signed in 1919, Germany were forced to pay reperations which were over 6.6 million. At this time no one had ever heard or imagined such amounts of money.
In 1923 Germany were unable to pay the yearly payments, this lead to the government deciding to print more money to pay the high reperations. As a result of this money became worthless, wages were payed twice daily before the rates went up, people required wheelbarrows to carry their wages, in 1923 it would cost over a million Marks to buy a loaf of bread or even an egg.
January 1923 250 marks
July 1923 3465 marks
September 1923 1,512,000 marks
November 1923 201,000,000,000 marks
These figures show the Rising cost of a loaf of bread in 1923
Hope this helps x
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Causes of inflation of post World War 1 Germany?
The basic cause of hyperinflation was the govt's(Government's) decision to print money. It was the government who gained from this process. eliminating the vast mountain of debt that the First World War had left it. The introduction of a new currency on the November 15, 1923 was eventually to bring stability but it did not restore prosperity to those who had been ruined.
What does lung hyperinflation stimulate?
Lung hyperinflation stimulates pulmonary stretch receptors. A person who experience lung hyperinflation can end up having COPD or chronic obstructive pulmonary disease.
Did Henry kissinger have a German accent?
Yes, he was born in Fürth, Bavaria, Germany in 1923.
How did world war l contribute to a German economic crisis?
Germany printed more paper money to pay wartime reparations, which led to hyperinflation.
The invasion of what country caused Britain and France to declare war on Germany?
The 1939 invasion of Poland caused Britain to declare war on Germany, which started WWII.
