Economic Recovery: RentenmarkHyperinflation was causing many to suffer in Germany as they didn't have enough money to pay for goods and the currency was not stableStresemann called off passive resistance and introduced a new currency (Rentenmark) new currecy stabilized economy and got rid of hyperinflation
Old currency was abolished and a new, temporary currency was introduced, the Rentenmark. New notes were trusted because the government promised to exchange them for shares in land or industry if the currency failed. In Aug 1924, the Rentenmark was replaced by a new permanent currency called the Reichsmark. A new independent national bank, the Reichsbank, was also created to control the currency.
Causes: Ruhr CrisisEffects: trust in banks and stable economy
Dawes Plan: Loans given to Germany from USA to stimulate economy - made reparations installments per year smaller
Cause
Cause: hyperinflation and Ruhr CrisisEffect: made Germany's economy prosper and got rid of hyperinflation
Young Plan: Reparation amount went down to 2 billion marks from 6.6 billion marks- gave Germany more time to pay them
Locarno Treaty: confirmed borders with other countriesEffect:- stimulated Germany's international relations- step towards joining League of Natoins- showed that they were ready to move past the war and treaty- showed they were ready to be accepted as a world power- increased status in the world and people
League of Nations:Stresemann persuaded the League to accept Germany as a member in 1926 and Germany even gained a place on the League’s Council. - Germany was allowed to join it (finally) and was given a seat between important nations - seen as an important world power- stimulating international relations- easier to get help from Allies
Kellogg-Briand Pact:Germany was one of 65 countries to sign the Kellogg-Briand Pact – an international agreement by which states promised not to use war to achieve their foreign policy aims. Effect: - This also showed that Germany had become a respectable member of the international community which led to the international community’s willingness to sign the Young Plan of 1929.
Rentenmark
Dawes and Young Plan
Improved International Relations
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