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Summary - European Economic History ( WWI and WWII)

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A summary providing information about the First and Second World War, its main events and impact on the economy and also eventually the creation of the EU

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Uploaded on
August 26, 2025
Number of pages
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Written in
2024/2025
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5️⃣
The Road to WWII and a New Europe
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👉🏻 1. Introduction
2. The Aftermath of WWI
3. The Road to WW II
3.2 Versailles treaty did not pacify the European Continent
3.3 A chaotic interbellum
3.4 The German economy
Crash of wall street 1929 - “Black thursday”
4. The Aftermath of WW II & the road to a new Europe
4.1 Europe: Quo Vadis?
4.2 Towards the ‘Cold War’.
5. More info




1. Introduction
⇒ This chapters covers the Road to the European Union & Peace, which was important for the European economy but it wasn’t a
easy road to get there




The Road to WWII and a New Europe 1

, 2. The Aftermath of WWI
⇒ The Armistice was signed on 11 November 1918 and the Human cost of the War were 16M dead & 21M wounded
⇒ The War led to the Collapse of ‘Empires’, these Empires were: Austro-Hungarian, Ottoman, German & Russian
⇒ There was a widespread economic hardship mostly in Europe which paved the way for the Great Depression & the Spanish flu of
1918




⇒ The rising feeling of nationalism, political extremism & unresolved tension were the sowing seeds for WW II

Woodrow Wilson
⇒ He was the US president who saw WW I as a final war for human liberty and set out “Fourteen Points” in a speech to US Congress
on 9 January 1918


Some examples of these “Fourteen Points”

“A peace without victory”

Plea for the creation of League of Nations
→ USA never became a member of this as the Congress was against it

Liberalism, diplomacy & arms reduction, and self-determination of peoples

Paris Peace Conference (1919)
⇒ The conference consists of a set of formal & informal diplomatic meetings, in which the Allies set the peace terms for the Central
Powers
⇒ The conference was attended by delegates of 32 nations, but the decisions were mainly taken by UK, US, FR & IT (The Big Four),
there were no delegations of RU,GE,AU,…
⇒ This conference wasn’t characterized by a “peace without victory” mentality

UK
→ Pacification of European continent as condition of renewed focus on British Empire

France
→ repair of war damages + security against threat German resurgence

Italy
→ manifests itself as one of the Great EU powers




The Big Four


Treaty of Versailles (1919)
⇒ A Peace treaty signed on 28 June 1919, this ended the war between Germany & the Allied Powers
Important & controversial legacy

Symbolic importance of location
→ Hall of Mirrors in Versailles

Germany accepted the responsibility for causing the war & accepted to pay reparations

Loss of German territories
→ Rhineland, Coal-rich areas like Saar, Colonies




The Road to WWII and a New Europe 2
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