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East Germany Economy

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February 7, 1990 | From Times Wire Services
Chancellor Helmut Kohl asked Tuesday for talks on a German monetary union as a way to strengthen East Germany's economy and stem a tide of immigrants to West Germany. Kohl, under pressure to prop up East Berlin's collapsing economy, split with his country's central bank when he made his call after meeting with members of his Christian Democratic Union.
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NEWS
October 22, 1991 | TAMARA JONES, TIMES STAFF WRITER
Eastern Germany's troubled economy appears to have hit its low point a year after unification, but a "widespread, powerful upswing" is not yet in sight, the nation's leading economic research institutes said Monday. The report by the country's "five wise men" forecast strong growth for the eastern economy next year but noted that unemployment and inflation will worsen somewhat.
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NEWS
February 10, 1990 | From Associated Press
The deteriorating condition of the East German economy, crippled by a daily drain of 1,800 people leaving for the West, has heightened concern among officials, but both German governments denied Friday that collapse is imminent.
NEWS
February 16, 1991 | TYLER MARSHALL, TIMES STAFF WRITER
Chancellor Helmut Kohl has suddenly found himself facing a serious domestic crisis with the alarming economic decline in eastern Germany--"far more difficult than we expected," his economic minister said Friday. Kohl has ordered a series of emergency meetings to deal with the crisis, and Economic Minister Juergen Moellemann earlier this week unveiled a 10-point program to head off a full-scale collapse of the region--until last October the communist state of East Germany.
NEWS
February 14, 1990 | WILLIAM TUOHY, TIMES STAFF WRITER
East and West German leaders agreed Tuesday to take steps toward monetary union and, eventually, reunification. Chancellor Helmut Kohl of West Germany told reporters after meeting with East German Prime Minister Hans Modrow that a joint group of economic experts will meet next week to begin the process. They will try to devise a way to make the West German currency, the deutschemark, the common currency in the two countries.
NEWS
February 15, 1990 | WILLIAM TUOHY, TIMES STAFF WRITER
East German Prime Minister Hans Modrow, his feelings hurt and his plea for financial aid rejected, left Bonn on Wednesday promising that his lame-duck government will press for economic reform before the national elections scheduled for next month. Modrow, who had conferred Tuesday with Chancellor Helmut Kohl and other West German officials, met with West German businessmen and industrialists Wednesday before returning to East Berlin.
NEWS
June 22, 1990 | TAMARA JONES, TIMES STAFF WRITER
In their most decisive step yet toward reunification, the two Germanys ratified a historic treaty Thursday merging their economies and promised to respect postwar Polish borders. West German Chancellor Helmut Kohl said that the pact saves East Germany "from immediate collapse." In East Berlin, the once-dominant Communist Party denounced the treaty as "an act of violence" certain to trigger widespread unemployment and bankruptcy.
NEWS
May 19, 1990 | TAMARA JONES, TIMES STAFF WRITER
East and West Germany signed a historic treaty Friday outlining the terms for reunification, hailing it as "the birth of a free and united Germany" after 45 years of bitter and bloody division. The pact merging the two countries' economic, social and monetary systems goes into effect July 2 after its expected ratification in coming weeks by the respective parliaments of the two Germanys.
NEWS
April 1, 1990 | TYLER MARSHALL, TIMES STAFF WRITER
In a development likely to alter the balance of economic power in Europe and beyond for the foreseeable future, East and West Germans have started the enormous task of unifying their economies. The initial, unofficial cost estimates are staggering. While neither the East nor West German governments have made official projections, some of West Germany's most respected economists have suggested the final price tag for unification could easily top 1 trillion deutschemarks (more than $600 billion).
NEWS
August 4, 1990 | TAMARA JONES, TIMES STAFF WRITER
The race toward German unification took a surprise shortcut Friday when leaders of the two nations called joint elections for Oct. 14 in a bid to stave off devastating economic collapse in the East. "A dream is becoming reality," declared West German Chancellor Helmut Kohl, vacationing in Austria, after his East German counterpart, Lothar de Maiziere, proposed an all-German vote nearly two months earlier than scheduled.
NEWS
December 29, 1990 | CAROL J. WILLIAMS, TIMES STAFF WRITER
A new age in East European economics dawns Tuesday, when the nations of the Soviet trading club pack away the mirrors they have used to balance their checkbooks for four decades. It will be every new democracy for itself in 1991, when the Council for Mutual Economic Assistance, or Comecon, starts keeping its books in real money, instead of the synthetic "transferable ruble" that has been its common, unconvertible currency for internal wheeling and dealing.
NEWS
August 21, 1990
European Community foreign ministers meet today in the Belgian capital to develop provisional rules for integrating East Germany into the 12-nation economic and political group at a pace faster than originally planned. When EC leaders first discussed bringing East Germany on board earlier this year, they assumed German unity would probably occur in late 1991. Now it is expected in mid-October, and could come even earlier.
NEWS
August 20, 1990 | From Times staff and Wire reports
The European Community will be asked this week to grant economic and environmental exemptions to East Germany. The EC Commission seeks to minimize the potentially staggering costs of bringing East Germany into the wealthy community. One challenge is adoption of policies to deal with East German industries that rely on filthy brown coal that fails EC safety and pollution standards.
NEWS
August 18, 1990 | TAMARA JONES, TIMES STAFF WRITER
The woman in aquamarine eyeliner sneaks past the security guard and clicketyclacks up four flights of stairs in her stilettos. She enters a lunchroom where half a dozen dour workers puff on cigarettes. They smile when they see her. She makes her delivery, passing little white bags around the table. Everyone peeks inside each others' bags. They nod approvingly. The woman collects her money and takes new orders.
NEWS
August 16, 1990 | TYLER MARSHALL, TIMES STAFF WRITER
In an attempt to cope with East Germany's rapidly deteriorating economic situation, Prime Minister Lothar de Maiziere fired two key Cabinet ministers Wednesday and accepted the resignation of two others. The dismissals were the first for East Germany's new democratically elected government, and seemed certain to increase tension in the broad, four-party coalition charged with the task of uniting East Germany with West Germany.
NEWS
August 15, 1990 | From Times Staff and Wire Reports
More than 5,000 East German farmers and forestry workers drove tractors, combines and logging trucks into West Berlin to demand higher wages and job security, but the Bonn government said that rapid raises could slow economic recovery as the socialist system is converted to Western-style capitalism. The farmers and lumber workers said they would start a nationwide strike today.
NEWS
March 24, 1990 | TYLER MARSHALL, TIMES STAFF WRITER
As policy makers debate how German unity might come about, the small Elbe River town of Doemitz has already made unification a fast-unfolding reality. The land mines along the border and the death strip that formed part of Europe's East-West divide and kept two generations of locals from getting even a decent look at the river have been dismantled. A ferry, leased by the neighboring West German authorities across the river, once again links Doemitz with the Elbe's west bank.
NEWS
August 18, 1990 | TAMARA JONES, TIMES STAFF WRITER
The woman in aquamarine eyeliner sneaks past the security guard and clicketyclacks up four flights of stairs in her stilettos. She enters a lunchroom where half a dozen dour workers puff on cigarettes. They smile when they see her. She makes her delivery, passing little white bags around the table. Everyone peeks inside each others' bags. They nod approvingly. The woman collects her money and takes new orders.
NEWS
August 9, 1990 | TAMARA JONES, TIMES STAFF WRITER
East Germany decided Wednesday against an instant merger with West Germany but called for unification and joint elections Oct. 14 to stave off total economic collapse. "The situation is difficult, and it is very serious, but it isn't hopeless," Prime Minister Lothar de Maiziere told the Volkskammer, or Parliament, during a marathon--and often strident--special session.
NEWS
August 8, 1990 | From Reuters
East German unemployment nearly doubled in July to 272,000 people, underscoring the need for unification with West Germany to rescue the former Communist country's crumbling economy, labor officials said Tuesday. The Labor Office said that unemployment soared 90% last month to 272,000, with another 847,000 people working or registered for "short time," a state-funded limbo between joblessness and welfare.
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