1931

Germany’s financial collapse in the summer of 1931 stands at the centre of a wider crisis that swept through the world economy. Heavy foreign debts, austerity, panic among investors, banking failure, and partial default combined to turn recession into depression and weaken the political order.

The story follows how economic breakdown became a political catastrophe. It is suited to readers interested in modern European history, the Great Depression, and the forces that helped destabilise Weimar Germany and strengthen Hitler’s appeal.