Depression and Politics, 1930–1932
The Great Depression of 1929–1933 struck the various nations of Europe with differing severity, depending on the character of their governments and their economic strength at the time. Russia and Italy already had totalitarian regimes, which manipulated their respective economies and controlled the political reactions of their citizens. The peoples of Slavic central Europe, already mostly under semi-Fascist systems, slid into agrarian economic disaster. France, almost self-sufficient and with strong monetary reserves did not feel the full impact of the Depression until 1932–1936. England and Germany were the two major European nations that immediately felt the results of the worldwide breakdown in foreign trade and the ensuing collapse of the money markets. And of those two, only England had the strength of a tried and tested government.
KeywordsDepression Europe Income Expense Defend
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