It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
. . . Europe experienced unprecedented economic growth after WWII. Germany continued to struggle economically due to punitive measures put into place against it after the war. By the early 1950s, despite encouraging growth, European economies had reached a point of stagnation. It was determined that an inability to trade with Germany was a major reason. Alleviating penalties resulted in a positive impact for the rest of Western Europe. However, the initial adjustment was to simply reduce penalties, while still imposing manufacturing limits. When all production limits were lifted, Germany and the rest of Western Europe realized a much greater economic surge, since Europe depended on Germany's manufacturing and industrial capabilities.
The first several years after World War II were years of bitter penury for the Germans. Their land, their homes, and their property lay in ruin. Millions were forced to flee with nothing but the clothes on their backs. Tens of millions did not have enough to eat or to wear. Inflation raged. Parker pens, nylon stockings, and Camel cigarettes represented the accepted, if not the legal, tender of the time. Occupation projections showed that the average German would be able to purchase a plate every five years, a pair of shoes every twelve years, and a suit every fifty years.
. . . currency reform: the abolition of the Reichsmark and the creation of a new currency, the deutsche mark. He carried out that reform on June 20, 1948, installing the new currency with the concurrence of the Western Allies but also taking advantage of the opportunity to abolish most Nazi and occupation rules and regulations in order to establish the genesis of a free economy. The currency reform, whose purpose was to provide a respected store of value and a widely accepted legal tender, succeeded brilliantly. It established the foundations of the West German economy and of the West German state.