German Chancellor Angela Merkel has called on the countries of Europe to put their "national egotisms" aside to find a solution to the continent's ongoing debt crisis.
Why the euro is so important to Germany —
German Chancellor Angela Merkel has called on the countries of Europe to put their "national egotisms" aside to find a solution to the continent's ongoing debt crisis.
Germany is no stranger to economic crises, having suffered from the effects of massive hyperinflation in the wake of World War I.
Why the euro is so important to Germany —
Germany is no stranger to economic crises, having suffered from the effects of massive hyperinflation in the wake of World War I.
In the 1920s, hyperinflation left the country's currency virtually worthless; the episode is widely viewed as one of the factors that led to the rise of the Nazi Party.
Why the euro is so important to Germany —
In the 1920s, hyperinflation left the country's currency virtually worthless; the episode is widely viewed as one of the factors that led to the rise of the Nazi Party.
Germany was left devastated at the end of World War II -- but was able to start over from scratch, thanks to support from the Marshall Plan.
Why the euro is so important to Germany —
Germany was left devastated at the end of World War II -- but was able to start over from scratch, thanks to support from the Marshall Plan.
In 1951, Germany was one of the founders of the European Union. The following decades saw the country go from strength to strength, in what became known as the "Wirtschaftswunder" (Economic Miracle).
Why the euro is so important to Germany —
In 1951, Germany was one of the founders of the European Union. The following decades saw the country go from strength to strength, in what became known as the "Wirtschaftswunder" (Economic Miracle).
But the country found itself in financial difficulties following the reunification of East and West Germany in 1990, and was forced to reform its economy.
Why the euro is so important to Germany —
But the country found itself in financial difficulties following the reunification of East and West Germany in 1990, and was forced to reform its economy.
For many Germans, the Deutschmark was a symbol of the country's recovery and resurgence after WWII.
Why the euro is so important to Germany —
For many Germans, the Deutschmark was a symbol of the country's recovery and resurgence after WWII.
And giving it up in favor of single European currency, the euro, was seen as a major sacrifice.
Why the euro is so important to Germany —
And giving it up in favor of single European currency, the euro, was seen as a major sacrifice.
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But thanks to its strong manufacturing sector, the German economy has continued to thrive, compared to those of neighbouring countries reliant on financial services and property markets.
Why the euro is so important to Germany —
But thanks to its strong manufacturing sector, the German economy has continued to thrive, compared to those of neighbouring countries reliant on financial services and property markets.