Talk:European banking crisis of 1931

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Latest comment: 7 years ago1 comment1 person in discussion

This topic is mentioned in many articles but needs to have a central/main description. Great_Depression#German_banking_crisis_of_1931_and_British_crisis is the best coverage I've found so far - perhaps it could be split out to start this article ? - Rod57 (talk) 17:53, 8 September 2017 (UTC)Reply

In May 1931 a run on Austria's largest commercial bank caused it to fail. The run spread to Germany, where the central bank also collapsed. International financial assistance was too late and in July 1931 Germany adopted exchange controls, followed by Austria in October. The Austrian and German experiences, as well as British budgetary and political difficulties, were among the factors that destroyed confidence in sterling, which occurred in mid-July 1931. Runs ensued and the Bank of England lost much of its reserves.