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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.
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Aalborg Center for European Studies, Department of Culture and Global Studies, AAU
Aalborg University, Kroghstræde 3, room 2.107, 9220 Aalborg East