Essay On Weimar Germany Hyperinflation
After the World War I, Germany faced strong political and financial instability. The German treasury was all empty due to the world war outlay. The government with the inability to raise proper amount of taxes so that the economy blooms up again, the German government started printing money. But it didn’t go as such, the huge amount of money pumping in the economy caused hyperinflation, the prices skyrocketed which made the German currency less valuable.
The great depression
This was said to be one of the world’s most severe economic contraction. This spanned from around 1929 till the Second World War. IT started with the stock market crashing in US in 1929. By 1932 the stock prices were at the floor of the graph. This marked the breaking down of the banking system, unemployment and a huge fall in the GDP. Though the US was severely hit by this, there were many more countries who were hit by this and few of them survived too. However, US got into a better state by around 1941 exactly before the start of the World War II.
The Crisis of the 1973
The 1973 had one of the most severe war consequences which shook the world and the effect is …show more content…
Greece Government started spending more than they collected in taxes. This caused a lack of fund within the economy which forced the Greek government to borrow funds from the European Union or IMF as loan. The government then cleared the immediate loans by borrowing thus keeping the government in debt. The lenders started asking for higher rates as there was also higher risk. There were bailouts where creditors helped the government to repay the loans by giving loans. The condition is as such that the country had to shut the banks for 10 days and even the ATHEX (Athens stock Exchange) was shut down. Greece currently is under debt of around 320 Billion