Germany coins 1931

ZIMSEC O Level History Notes: Dictatorship in Europe: Dictatorship in Germany: Economic Problems

  • The war had left Germany bankrupt
  • Germany was forced to pay war reparations amounting to 6 600 million pounds
  • This amount was very detrimental to Germany economy but was reduced later
  • The living standards of the Germans were very low
  • Inflation was also on the rise in Germany
  • Inflation led to the rise in food prices
  • The Germany currency the Mark lost value
  • Wages became very low and this led to many strikes in industries and factories
  • The unemployment rate also increased as industries closed
  • Germany lost most of its colonies and it was unable to generate resources to pay reparations
  • France and Belgium occupied the Ruhr region and imposed an economic blockade on Germany
  • After the occupation of the Ruhr devastated the economy of Germany
  • Germany began to face serious food, power and fuel shortages
  • Germany industries which were operating lacked raw materials, that is, rubber and coal
  • Pensioners could no longer receive their monies and savings became worthless

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