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The Red MillionaireA Political Biography of Willy Munzenberg, Moscow's Secret Propaganda Tsar in the West$
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Sean McMeekin

Print publication date: 2003

Print ISBN-13: 9780300098471

Published to Yale Scholarship Online: October 2013

DOI: 10.12987/yale/9780300098471.001.0001

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Tango with the Devil

Tango with the Devil

Chapter:
(p.222) Chapter 13 Tango with the Devil
Source:
The Red Millionaire
Author(s):

Sean McMeekin

Publisher:
Yale University Press
DOI:10.12987/yale/9780300098471.003.0014

This chapter discusses the political fallout from the Great Depression in central Europe. The German economy had slipped into recession even before the Wall Street crash, and the news from New York devastated the business climate even further. The Muller government was already drowning under the political burden of a burgeoning employment crisis that threatened to bankrupt the national unemployment insurance fund. Foreign Minister Gustav Stresemann of the People's Party, who had negotiated the far-reaching Young Plan of 1929 refinancing the German reparation payments over the long term and including a pledge from the Allies to evacuate their troops from the Rhineland, died just weeks before the Wall Street crash, depriving the Cabinet of its most talented statesman. Stresemann's death laid bare the impotence of the Muller Cabinet, which few expected to survive the difficult winter months.

Keywords:   political fallout, Great Depression, German economy, Wall Street crash, Muller government, employment crisis, Gustav Stresemann, Young Plan

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