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Invitation to open research discussion: Inside the German government. The case of designing the monetary union between West and East Germany 1990
The German reunification happened rather fast. A very important step was the monetary union of 1 July 1990. The paper we discuss reconstructs the deci
09.05.2019 kl. 13.00 - 10.05.2019 kl. 14.00
Presentation of the reserch article "Insufficient data, short time spans, illusions and multiple pressures: designing the German Monetary Union in 1990". Economics and Business Review, 5 (19)(1), 53-78 by Wolfgang Zank. The presentation will be followed by a discussion.
The German unification in 1990 generated many benefits, but also many disappointments. After the introduction of the monetary union between the GDR and West Germany on 1 July 1990, the East German industry collapsed, and mass unemployment became persistent. Ever since the modalities of the monetary union have been discussed controversially. This paper reconstructs the decision-making processes and negotiations towards monetary union. To a high extent, this econstruction is based on original documents.
Early on in Bonn a consensus was reached that monetary union had to be introduced soon, the rapid decline of the GDR making stepwise approaches impossible. Many officials were aware of the detrimental effects of a 1:1 conversion of the wages. But few dared to go against the widespread demands for 1:1 in the GDR population and government, not the least because of over-optimistic promises before the elections in the GDR in March 1990.
The event is open for all interested students and employees at Aalborg University and will be held in English.
Photo credits: Colourbox
Aalborg Center for European Studies, Department of Culture and Global Studies, AAU
Aalborg University, Kroghstræde 3, room 2.107, 9220 Aalborg East