There Will Be the Devil to Pay Book contents
- There Will Be the Devil to Pay
- Studies in Macroeconomic History
- There Will Be the Devil to Pay
- Copyright page
- Contents
- Frontispiece
- 1 Introduction
- 2 Central Bankers and Their World
- 3 Preparing for Crisis (May 11–May 19)
- 4 Foreign Creditors (May 16–May 25)
- 5 Moratorium or Guarantee? (May 25–May 27)
- 6 Guarantee at Last? (May 26–June 1)
- 7 Releasing the BIS Credit (May 29–June 5)
- 8 Surrounded with Trouble (June 5–June 10)
- 9 Where and How to Place? (June 8–June 13)
- 10 A World Political Problem (June 11–June 16)
- 11 Francis Rodd Makes Sense – and a Plot (June 9–June 20)
- 12 To Act Now If We Are to Act at All (June 16–June 27)
- 13 Germany Will Collapse (June 19–July 10)
- 14 Anxiety within Germany at Climax (July 11–July 23)
- 15 Going Off the Gold Standard? (July 14–August 21)
- 16 We Must Not Fool Ourselves Now (August 21–September 17)
- 17 As for the Future of England (September 16–October 23)
- The End (2024)
- Timeline
- Actors in the 1931 Financial Crisis Archives
- Acknowledgements
- Archives
- Notes
- Bibliography
- Index
13 - Germany Will Collapse (June 19–July 10)
Published online by Cambridge University Press: 21 December 2024
- There Will Be the Devil to Pay
- Studies in Macroeconomic History
- There Will Be the Devil to Pay
- Copyright page
- Contents
- Frontispiece
- 1 Introduction
- 2 Central Bankers and Their World
- 3 Preparing for Crisis (May 11–May 19)
- 4 Foreign Creditors (May 16–May 25)
- 5 Moratorium or Guarantee? (May 25–May 27)
- 6 Guarantee at Last? (May 26–June 1)
- 7 Releasing the BIS Credit (May 29–June 5)
- 8 Surrounded with Trouble (June 5–June 10)
- 9 Where and How to Place? (June 8–June 13)
- 10 A World Political Problem (June 11–June 16)
- 11 Francis Rodd Makes Sense – and a Plot (June 9–June 20)
- 12 To Act Now If We Are to Act at All (June 16–June 27)
- 13 Germany Will Collapse (June 19–July 10)
- 14 Anxiety within Germany at Climax (July 11–July 23)
- 15 Going Off the Gold Standard? (July 14–August 21)
- 16 We Must Not Fool Ourselves Now (August 21–September 17)
- 17 As for the Future of England (September 16–October 23)
- The End (2024)
- Timeline
- Actors in the 1931 Financial Crisis Archives
- Acknowledgements
- Archives
- Notes
- Bibliography
- Index
Summary
Chapter 13, Germany will collapse (June 19 - July 10) begins with everyone’s eyes on Germany where the uncertainty about the French position towards the Hoover plan increases every day. More generally, politics comes to play a larger role, as Norman increasingly emphasizes that it’s about politics, and Harrison has to take Hoover’s plan into account. At the same time leadership in the epistemic community of central bankers shifts away from Norman toward Harrison, who enters into a dialogue with French central bankers. Tensions arise between Norman and Harrison, as the begin to subscribe to divergent narratives of the situation and what needs to be done. In Germany, the situation gets more concerning by the hour, and Hans Luther travels to London and Paris in an unsuccessful attempt to secure a giant credit to the Reichsbank.
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- There Will Be the Devil to PayCentral Bankers, Uncertainty and Sensemaking in the European Financial Crisis of 1931, pp. 231 - 255Publisher: Cambridge University PressPrint publication year: 2025