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French Intellectuals, the Franco-German Axis and the Occupation_of_the_Ruhr in 1923

Attali cannot understand, for example, why the Germans are developing such an "obsessive fear of inflation" in the discussion over European Central Bank (ECB) bailout programs for debtor countries. The national bankruptcy of the German Reich in the wake of hyperinflation in 1922 and 1923 was a consequence of Germany having lost the war, says Attali.

He believes that if there is a parallel to the current situation, it ought to be former Chancellor Heinrich Brüning's grim austerity policy during the post-1929 global economic crisis, which led to depression, mass unemployment, impoverishment and, politically, to the rise of the Nazis.

Why, he asks, don't the Germans see the writing on the wall, and why do they use the "fictitious threat" of inflation and an imaginary wealth destruction machine as an argument?

French Intellectuals Put the Franco-German Axis on the Couch - SPIEGEL ONLINE

The Occupation_of_the_Ruhr in 1923




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