Creditanstalt fails
1931 · Event
Austria's biggest bank — a Rothschild house older than the republic — collapses, and the run leaps the border into Germany within weeks, closing every German bank by July. What had been an American slump becomes a world financial crisis; German unemployment feeds directly into the politics that follow.
On these timelines: The Great Depression, Economic History, Germany, Master
More from The Great Depression
- Great Depression (1929)
- Britain abandons the gold standard (1931)
- The bank holiday stops the panic (1933)
- American banking crisis (1930-33) (1930)
- Glass-Steagall walls off the banks (1933)
- The Roosevelt recession (1937)
- Smoot-Hawley Tariff (1930)
Around 1931
- Hitler becomes Chancellor of Germany (1933)
- Battle of Britain (1940)
- World War II (1939)
- Spanish Civil War (1936)
- The Holocaust (1941)
- Presidency of Mustafa Kemal Atatürk (1923)
- Winston Churchill's first premiership (1940)
- Founding of the Soviet Union (1922)
- Hitler's rule of Germany (1933)
- Pop music: the 1940s (1940)