Insufficient data, short time spans, illusions and multiple pressures::designing the German Monetary Union in 1990
| Autor: | Wolfgang Zank |
|---|---|
| Jazyk: | angličtina |
| Rok vydání: | 2019 |
| Předmět: |
Economics and Econometrics
Unification media_common.quotation_subject Population Illusion p3 p5 german monetary and economic union p2 p1 f2 German f4 Political science f0 Business and International Management education f5 HB71-74 media_common Government education.field_of_study Modalities transition to market economy k0 decision-making processes o1 language.human_language Negotiation Economics as a science gdr economy k3 k2 Political economy Unemployment language german reunification Finance |
| Zdroj: | Zank, W 2019, ' Insufficient data, short time spans, illusions and multiple pressures: designing the German Monetary Union in 1990 ', Economics and Business Review, vol. 5 (19), no. 1, pp. 53-78 . https://doi.org/10.18559/ebr.2019.1.4 Economics and Business Review, Vol 5, Iss 1, Pp 53-78 (2019) |
| DOI: | 10.18559/ebr.2019.1.4 |
| Popis: | The article reconstructs the negotiations and decisions-making processes leading to the monetary union between West and East Germany 1990 The German unification in 1990 generated many benefits, but also many disappointments.After the introduction of the monetary union between the GDR and West Germany on 1 July 1990, the East German industry collapsed, and mass unemployment became persistent. Ever since the modalities of the monetary union have been discussed controversially. This paper reconstructs the decision-making processes and negotiations towards monetary union. To a high extent, this reconstruction is based on original documents. Early on in Bonn a consensus was reached that monetary union had to be introduced soon, the rapid decline of the GDR making stepwise approaches impossible. Many officials were aware of the detrimental effects of a 1:1 conversion of the wages. But few dared to go against the widespread demands for 1:1 in the GDR population and government, not the least because of over-optimistic promises before the elections in the GDR in March 1990. |
| Databáze: | OpenAIRE |
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