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| Title |
'Misplaced serenity as the Germanys leap into unknown' from The Guardian (29 June 1990)
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| Document type |
Press article
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| Source |
Brummer, Alex, "Misplaced serenity as the Germanys leap into unknown", dans The Guardian. 29.06.1990, pp. 17.
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| Keywords |
Federal Republic of Germany, monetary union, unification of Germany
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| Copyright |
© GUARDIAN www.guardian.co.uk
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| Caption |
On 29 June 1990, the British left-wing daily newspaper The Guardian expresses its fears about the optimism of the Bundesbank and the OECD with regard to the monetary, economic and social union between the two Germanys.
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| Location in the digital library |
HISTORICAL EVENTS >> 1987–1997 The European Union in a Europe in the throes of change >> The end of the Cold War and geopolitical change in Europe >> Reunification of a divided Germany >> Chancellor Kohl's role in reunification
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| Document extract |
Misplaced serenity as the Germanys leap into unknown
As DM-Day approaches, the soothing sounds of West German politicians, the Bundesbank and even the OECD are coming through loudly and clearly. The leap into the unknown of German monetary unity is being greeted with a serenity which borders on complacency. Nowhere was this more evident than in the latest comments by the West German Finance Minister, Theo Waigel. "What we and the Bundesbank predicted has happened - here is no fear at all of inflation in connection with the introduction of the Deutschmark. The stability of the mark is guaranteed in everyway." This is typical finance minister talk: it would be suicide to express uncertainty about the currency in a country as sensitive about inflation as Germany. What is, perhaps, more surprising is the OECD's mild view. It argues that growth in the wider German economy may be somewhat steeper and that it may take a little longer to bring down prices than would have otherwise been the case. But, although there may be a blip in German consumer prices in the second half of this year the OECD seems confident it can be brought down to a respectable 3.2 per cent in 1991. The OECD seems to have an unshakeable faith in the powers of the Bundesbank dismissing worries about a "monetary overhang" from absorption of the Ostmark and the budgetary (...) Read more in ENA |
| See also |
The issue of a divided Germany
German reunification: an international and European issue
Mikhail Gorbachev and Helmut Kohl sign a joint declaration (Bonn, 13 June 1989)
Cartoon by Hanel on monetary policy in the former GDR (1990)
European Parliament resolution on the situation in the GDR (12 October 1989)
Cartoon by Cummings on the French_German rapprochement (17 August 1959)
Signing of the Single European Act (Luxembourg, 17 February 1986)
Swearing_in of Konrad Adenauer (Bonn, 15 September 1949)
Composition of the first government of Konrad Adenauer (Bonn, 20 September 1949)
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