The Deutsche Mark and its Legacy

The Deutsche Mark and its Legacy Since the Euro crisis occurred, there has been a lot of talk about the common European currency, its pros and cons, and the European Union in general. The euro was introduced in 2002 to standardize the money transactions and to push the European Integration, but from then, many Germans (and, of course, citizens of other members of the EU) still  could not let go of their old, beloved currency. Especially for Germans, it was rather easy to convert the value of their Deutsche Marks into Euros because they  were just about half  the  value. That made the transmission rather easy for them, but it also made it harder to let the Mark disappear from their minds. To  this  day, billions of Deutsche Mark bills and coins are still circulating or just lying somewhere in safes, under mattresses, or in collecting albums. The relationship of the Germans towards their Deutsche Mark has always been something special. The History of The Deutsche Mark This relationship has begun just after the Second World War, as the Reichsmark was no longer in use because of the high inflation and the lack of economic coverage. Therefore, people in post-war Germany did just help themselves by reintroducing a very old and basic way of paying: They practiced barter. Sometimes they bartered food, sometimes resources, but many times they used cigarettes as a currency. Those have been very rare after the war, and therefore, a good thing to swap for other things. In 1947, one single cigarette had the value of about 10 Reichsmark, which equals a purchasing power of about 32 euros today. That is why the expression Zigarettenwhrung has become colloquial, even if other goods are traded on the black market. With the so-called Whrungsreform (currency reform) in 1948, the Deutsche Mark was officially introduced in the three western Besatzungszonen, the allied occupied zones of Germany to prepare the country for a new currency and economic system, and also to stop the flourishing black market. This led to inflation in the Soviet-occupied zone in East-Germany and to the  first tension between the occupants. It forced the Soviets to introduce its own eastern version of the mark in its zone. During the Wirtschaftswunder in the 1960s, the Deutsche Mark became more and more successful,  and in the following years, it became a hard currency with international standing. Even in other countries, it was adopted as legal tender during hard times, such as in  parts of  the former Yugoslavia. In Bosnia and Herzegovina, it is – more or less – still used  today. It was linked to the Deutsche Mark and is  now  linked to the euro, but is called the  Convertible Mark, and the bills and coins have a different look. The Deutsche Mark Today The Deutsche Mark has overcome many hard times and has  always seemed to represent the values of Germany,  such  as  stability and prosperity. That is one of many reasons why people still mourn the days of the Mark, especially during the financial crisis. However, that does  not  seem to be the reason why so many Marks are still circulation, according to the Deutsche Bundesbank. Not only has  a  large amount of the money  been transferred abroad (mainly to  the former Yugoslavia),  but  also, it is sometimes the way  in  which many Germans saved their money over the years. People often mistrusted the banks, especially the older generation, and just hid cash somewhere in the house. Thats why many cases are documented where large amounts of Deutsche Marks are discovered in houses or flats after the occupants died. After all, in most of the cases, the money might have  just been forgotten- not only in hiding places but also in pants, jackets, or old wallets. Also, much of the money that is still circulating is just waiting in collectors albums to be found. Over the years, the Bundesbank has always published new specially-made coins to collect, most of them with a nominal value of 5 or 10 Marks. The good thing is, though, that one can still change Deutsche Marks into euros at the Bundesbank in the exchange rate of 2002. You can also return bills to the bank and get them replaced if they are (partially) damaged. In case you find an album full of  a D-Mark collectors coins, send them to the Bundesbank and get them exchanged. Some of them can be very precious today. If they are not, with the increasing silver prices, it  might be a better idea to get them melted down.

Expansion of Diageo Paper Essay Example | Topics and Well Written Essays - 2500 words

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Role Database Management Plays in Managing Data as a Business Resource Essay

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Armenian Genocide - The Extintction Of ANation Research Paper

Armenian Genocide - The Extintction Of ANation - Research Paper Example Another noteworthy reason behind elaborating the topic selected for this research includes the strong denial tenaciously witnessed by the Turks with regards to the happening of such a gruesome incident at such a massive scale, claimed by the Armenians (Mikaberidze 233). Despite the very fact that the Turks persistently repudiate the number and ratio of the Armenian masses killed by the Turks, they emphatically endorse the catastrophe of the Armenian persecution and killing during the First Great War. Somehow, the recent offer of seeking the apology from the people of Armenia, on the part of the incumbent Turkish prime minister, on the eve of the completion of ninety-nine years of the mishap ratify the claims made by the generations of the Armenian about the tyrannies and cruelties exercised by the Turks on the Armenians partly because of their ethno-racial and religious differences on the one side, and the financial and moral support rendered by the Armenians to the enemies of the Ot toman Empire on the other (Russian Times 2014). By critically investigating into the history of the world at large, it becomes evident that the humans have always been involved into clashes, conflicts, bloodshed and war against the fellow-beings since the primitive eras of Paleolithic and Neolithic civilizations (Durkheim 33). The origin of religion also reflects the lust of the humans to obtain a dominant position against their rival clans, tribes, groups, communities, societies and nations, where the individuals sought support from the metaphysical and supernatural forces to win their favours and earn financial, physical, political and social gains to employ the same against the rival forces (Freud 21). In other terms, spiritual belief system has always been one of the most noteworthy bones of contention among the individuals adhering to and emulating the diverse religious code and

Good for Society vs. Individual Freedom Essay Example | Topics and Well Written Essays - 2000 words

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