“Those debts block spending on goods and services, shrinking the ‘real’ economy. A write-down would be pragmatic, not merely moral sympathy with the less affluent. In fact, it could create what the Germans called an “Economic Miracle” – their own modern debt jubilee in 1948, the currency reform administered by the Allied Powers. When the Deutsche Mark was introduced, replacing the Reichsmark, ninety percent of government and private debt was wiped out. Germany emerged as an almost debt-free country, with low costs of production that jump-started its modern economy.”
Het vergeten sabbatjaar in West-Duitsland
Lees in dit artikel hoe het vergeten sabbatjaar in West-Duitsland in 1948 bijna alle schulden wegvaagde en de economie een vliegende start gaf.
