Great Depression in Romania
The
economic crisis, the National Bank of Romania carried out various measures and the country took various loans. Help was also called upon from France.[1][2]
The Great Depression led to a drop of 50% in
Landowners went bankrupt and the peasants had little left to eat or pay taxes to the state. By 1932, some 2.5 million farmers had unpaid debts to banks, worth 52 billion lei.[4]
Between October 1929 and July 1931, more than 17 billion lei were withdrawn from Romanian
depositors, as people began to withdraw their money en masse.[3] The peak of the financial disaster was reached in 1931, when one of the most important banks in Romania, the Marmorosch Blank Bank of Aristide Blank, declared bankruptcy.[4]
On 28 January 1933, the Grivița strike of 1933 was started at the Grivița Workshops in Bucharest by workers of Căile Ferate Române (CFR). The strike was brought about by the increasingly poor working conditions of railway employees in the context of the Great Depression in Romania.[4][5]
See also
References
- ^ Blejan, Elisabeta; Costache, Brîndușa; Aloman, Adriana (2009). "The National Bank of Romania during the Great Depression – 1929-1933" (PDF). Fourth Conference of Southeast Europe Monetary History Network (SEEMHN) (8). National Bank of Serbia: 1–34.
- ^ Chiappini, Raphaël; Torre, Dominique; Tosi, Elise (2009). "Romania's unsustainable stabilization: 1929–1933" (PDF). GREDEG Working Papers (2019–43). Groupe de Recherche en Droit, Economie, Gestion: 1–32.
- ^ a b Țimonea, Dorin (11 December 2016). "Efectele crunte ale crizei economice din 1929 în România: 300.000 de șomeri și scăderea industriei cu 50%". Adevărul (in Romanian). Retrieved 21 March 2021.
- ^ a b c Zamfirache, Cosmin Pătrașcu (2 June 2017). "Radiografia celui mai mare dezastru economic din istoria României. Zeci de mii de șomeri, săraci dați pe mâna cămătarilor și guvernanți impertinenți". Adevărul (in Romanian). Retrieved 21 March 2021.
- ^ Țiu, Ilarion (9 March 2005). "Muncitorii se revoltă la Grivița și în Prahova". Jurnalul Național (in Romanian). Retrieved 4 December 2022.