1. German Hyperinflation & Political Optimism

2. The Ruhr Crisis
French demand reparations payment, occupy the Ruhr industrial district when Germany refuses

3. German gov. asks Ruhr workers to strike French limit food deliveries
Germans print money to pay debts
Causes hyperinflation

11. Germans ask again for a reduced payment plan, France agrees
German gov. issues new currency, remains stable

12. The Dawes Plan 1924
American C.G. Dawes negotiates the new payment plan
US loans cash to Ger., paid to GB & Fra, who pay back loans to US
Works well until Great Depression in US

13. The Locarno Pact 1925
Mutual agreements on outstanding issues that gave hope of long term, general peace
Ger & Fra agree on border
GB & Ita pledge to protect peace
Ger. Promises peaceful deal with Cze & Pol

14. Ger. Joins League of Nations 1926
Furthers hope for peace

15. Kellogg-Briand Pact 1928
15 countries denounce war as an instrument of foreign policy
Includes the US