Karl Brenke

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Last quote by Karl Brenke

Yes, economically speaking the monetary union in 1990 was a fatal error, a disaster. It particularly created enormous pressures for industry. We saw industrial production collapse by a half within a few weeks. The collapse would have been much worse if politicians had not responded with support measures. But politically the monetary union could not have been avoided. Without the monetary union people would simply have left. The East would have been bled dry economically without it.feedback
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Nov 04 2014
Karl Brenke has most recently been quoted in an article called Germany still divided? The differing fortunes of east and west. Karl Brenke said, β€œYes, economically speaking the monetary union in 1990 was a fatal error, a disaster. It particularly created enormous pressures for industry. We saw industrial production collapse by a half within a few weeks. The collapse would have been much worse if politicians had not responded with support measures. But politically the monetary union could not have been avoided. Without the monetary union people would simply have left. The East would have been bled dry economically without it.”.
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