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Why did France occupy the Ruhr in 1923?
Do you know?
In 1922 Germany defaulted on reparations payments for the second year running. In retaliation, France, showing amazing short-sightedness, occupied the Ruhr Valley, the centre of German industry. This not only reduced the already slim chances of Germany paying any reparations, but also increased hostility between the two countries. The stoppage of the Ruhr industry had a calamitous effect on the mark, which plummeted in value. Overnight savings were wiped out, leaving millions penniless and destitute; their careers, hopes, and finances totally destroyed.