Creditanstalt
Quick Summary
The Creditanstalt was Austria's most influential banking house, and its bankruptcy in May 1931 brought the country close to financial disaster. This event was a significant factor in the broader economic crisis of the 1930s, which saw global trade and production severely damaged following the 1929 stock market crash. The economic downturn weakened democracies and emboldened authoritarian regimes, contributing to the political instability that ultimately led to World War II. The Creditanstalt's financial troubles were exacerbated by a proposed Austro-German customs union, which faced strong opposition from France and the Little Entente, leading to a run on the bank.12
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- Otto Ender
…by the collapse of the Creditanstalt, the most important Austrian banking house. Later, as minister without portfolio in the government of Engelbert Dollfuss, he supervised the drafting of a new federal authoritarian constitution (1933–34). He headed (1934–38) the Austrian supreme board of accountancy. Imprisoned by the Nazis after the Anschluss…
Read More…by the collapse of the Creditanstalt, the most important Austrian banking house. Later, as minister without portfolio in the government of Engelbert Dollfuss, he supervised the drafting of a new federal authoritarian constitution (1933–34). He headed (1934–38) the Austrian supreme board of accountancy. Imprisoned by the Nazis after the Anschluss…
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20th-century international relationsPolitical consequences of the Depression…Austria, whose central bank, the Creditanstalt, was on the verge of bankruptcy. In March 1931, Stresemann’s successor as German foreign minister, Julius Curtius, signed an agreement with Vienna for a German–Austrian customs union, but French objections to what they saw as a first step toward the dreaded Anschluss provoked a…
Read More…Austria, whose central bank, the Creditanstalt, was on the verge of bankruptcy. In March 1931, Stresemann’s successor as German foreign minister, Julius Curtius, signed an agreement with Vienna for a German–Austrian customs union, but French objections to what they saw as a first step toward the dreaded Anschluss provoked a…
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AustriaEconomic reconstruction and political strife…in May 1931 of the Creditanstalt, the country’s most influential banking house, brought Austria close to financial and economic disaster. This, together with the rise of the National Socialists in Germany, resulted in considerable support being given to the Austrian Nazi Party (see National Socialism; Nazi Party). Provincial elections in…
Read More…in May 1931 of the Creditanstalt, the country’s most influential banking house, brought Austria close to financial and economic disaster. This, together with the rise of the National Socialists in Germany, resulted in considerable support being given to the Austrian Nazi Party (see National Socialism; Nazi Party). Provincial elections in…
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