The Rise of Right-wing Terrorism In Weimar Germany | Impossible Peace | Timeline

Jul 9, 2020 | In effort to keep peace, treaties were proposed to keep the aggressors of World War 1 under-armed. The ratio of military power was drastically in favour of the US and Great Britain. This might have successfully kept peace, if it was only given a chance.

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Troubled Greece: Fears of 'First Domino' to Fall as Austerity Is Counted a Failure

THE GUARDIAN: Greek's leftist party Syriza says recovery depends on a renegotiated bail-out and access to European structural funds

The soup kitchen opens at noon but long before then the queues start to form in the hot Athens sun. A couple of streets away from where sardines, red mullet and squid are piled high in the fish market, those down on their luck line up. While elsewhere life goes on seemingly as normal, students, jobless people, single parents and pensioners swallow their pride and wait patiently. They get two meals a day, at midday and 5pm. This is what a depression looks like.

At first blush, Greece seems no different from any other developed country. People sit in the city centre cafes sipping their iced coffees; yellow taxis cruise the streets; the shops are open for business. But different it is, and it is not hard to spot the signs that this is an economy that has contracted by 20% since the downturn began three years ago and that it is still falling.

You don't need to know that spending in the shops is down by a sixth over the past year; it is obvious from the empty cabs and those shops open but with no customers. You don't need to know that the official unemployment rate is well above 20% and youth unemployment is nudging 50%: it's obvious from the young men idling on street corners and openly dealing drugs.

Greece is broke and close to being broken. It is a country where children are fainting in school because they are hungry, where 20,000 Athenians are scavenging through waste tips for food, and where the lifeblood of a modern economy – credit – is fast drying up.

It is a country where the fascists and the anarchists battle for control of the streets, where immigrants fear to go out at night and where a woman whispers "it's like the Weimar republic [sic]" as a motorcycle cavalcade from the Golden Dawn party, devotees of Adolf Hitler, cruises past the parliament building. Graffiti says: "Foreigners get out of Greece. Greece is for the Greeks. I will vote for Golden Dawn to remove the filth from the country." » | Larry Elliott, economics editor | Thursday, May 31, 2012

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The Folk Memory that Makes Germany Reluctant to Act over the Euro

THE DAILY TELEGRAPH: A fear that inflation leads to nationalist extremism lingers in Berlin – but European unity will not die if the Germans allow the euro to fail, argues Daniel Johnson.

A spectre is haunting Europe – the spectre of German domination. As the Heath Robinson structures of the European Union buckle under the weight of their own contradictions, the question on everybody’s lips concerns the Germans. What will they do about the eurozone crisis? Will they try to save the dream of a federal Europe – or let it go up in a puff of smoke?

In the old days, what gave European statesmen nightmares was known as “the German Question”: once it was united by Bismarck, Germany was too big and powerful to be balanced by the other Continental powers. After starting two world wars, the division of Germany was seen as the price of peace in Europe. At the time, the French writer François Mauriac observed with heavy-handed irony: “I love Germany so much that I am glad there are two of them.”

Today the German Question has returned in a new form. Silvio Berlusconi, like other fallen European leaders from Bertie Ahern to George Papandreou, could be forgiven for blaming the Germans for his defenestration. These days it is the call from the Berlin Chancellery, rather than the White House or the Kremlin, that Europe’s weaker brethren dread.

I recall vividly an occasion in 1991, soon after the putsch against Margaret Thatcher, when she presided over a small dinner of sympathetic young intellectuals. I congratulated the former prime minister on her resolute stand in the Cold War, alongside Ronald Reagan, which had done so much to bring down the Berlin Wall. The Iron Lady’s face darkened. In her most imperious tone, she expostulated: “Are you saying that I am responsible for that?”

German reunification was – and is – her deepest regret. She welcomed the liberation of Eastern Europe from communism, but she feared European monetary union, or what her lieutenant Nicholas Ridley called “a German racket designed to take over the whole of Europe”.

Ironically, the Germans themselves have played to the gallery by suggesting that the alternative to the single currency may be war. “If the euro fails, Europe fails,” Chancellor Merkel told the Bundestag last week. “We have an historical obligation to protect by all means Europe’s unification process, begun by our forefathers after centuries of hatred and bloodshed.”

Angela Merkel is by no means alone in resorting to such hyperbole. Astonishingly, the doctrine that only European unification can prevent an atavistic return to the horrors of “nationalism” (for which read Nazism) has long been and remains the received wisdom in German political circles. » | Daniel Johnson | Thursday, November 10, 2011

It's not the Germans that worry me, it's the British with their xenophobic, anti-European, anti-EU, anti-euro rhetoric! From the articles and the comments on this newspaper, anyone would be forgiven for thinking that the Germans were our enemies! – © Mark

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Weimar Republic Hyperinflation
A short film explaining Hyperinflation with in the Weimar Republic. In the bubble that was created mimics what is happening now in the US

Weimar 1923 May Have More Lessons than US 1932
THE TELEGRAPH: Are we heading for another Great Depression?

Many baffled forecasters are asking just that, and studying what the US did wrong after the stock market crashed in 1929. But the more relevant policy errors might have been those made earlier across the Atlantic - in Weimar Germany from 1919 to 1923.

Policymakers have learned from the US mistakes. This time around, there has been no shrinkage of the money supply and no repetition of President Hoover's increase in tariffs in 1930 and income taxes in 1932. On the contrary, money supply has expanded rapidly while fiscal policies have been expansionary and protectionism limited.

But look at the Weimar government. Suffering from the trauma of defeat in the First World War and the burden of reparations, it was too weak to raise taxes. It ran large budget deficits instead. Interest rates were kept far below the rate of inflation, while money supply expanded rapidly. About half of government expenditure was funded by newly printed money. >>> By Martin Hutchinson, breakingviews.com | Wednesday, April 1, 2009

Dr Paul: German Hyperinflation

The Dawning of a New Dark Age – Paperback (US) Barnes & Noble >>>
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