Erfüllungspolitik

German economic policy

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June 26, 2026

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The term Erfüllungspolitik refers to the German policy of "fulfillment" adopted by the Weimar Republic. This policy involved meeting initial demands for reparations imposed by the Treaty of Versailles to reestablish trust and then negotiating for better terms. This approach was advocated by figures like Walther Rathenau and Gustav Stresemann.

However, this policy led to significant economic hardship. Germany struggled to make reparation payments, leading to the occupation of the Ruhr by France and Belgium in 1923. The German government's response, printing excessive amounts of paper money, resulted in hyperinflation, devaluing the mark and destabilizing German society. This economic turmoil contributed to the rise of extremism, including the Nazi party.12

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history of Europe
The impact of the slump
…some industrialists, and the so-called Erfüllungspolitik, or “policy of fulfillment,” advocated by Rathenau and Stresemann. They proposed to meet initial demands for reparations so as to reestablish trust and then negotiate for better terms. This was the policy adopted by the Weimar Republic.
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…some industrialists, and the so-called Erfüllungspolitik, or “policy of fulfillment,” advocated by Rathenau and Stresemann. They proposed to meet initial demands for reparations so as to reestablish trust and then negotiate for better terms. This was the policy adopted by the Weimar Republic.
Read More