Today German marks
are travel souvenirs, bits of history forgotten at the back of a drawer or still stashed in safety deposit boxes.
In line with the Mars hypothesis, the share of German marks
in the Austro-Hungarian Empire's reserves increased with the strengthening of the Triple Alliance, the secret pact the empire signed with Germany and Italy in 1882.
But euro defenders argue that Germany's export sector, a key driver of growth in recent years, has benefited from the common currency by making its products more competitive abroad than they would have been with a stronger German mark
"The cost was one shilling (5p) per pack of 20 and the going rate for selling to the local Germans was one German Mark
for a 20 pack.
1923: As the German mark
collapsed, pounds 1 was equal to 600 million marks.
19), such as exchanging the East German mark
one to one for the West German mark
(which implied an appreciation of the East German mark
by some 400 percent), thus triggering unrealistic expectations that fed into excessive wage demands.
Although the euro is at record levels, he described its strength as not "unprecedented" when taking into account the strength of predecessors such as the German mark
and the French franc in the early 1980s.
The 98-year-old hotel, which has played host to Japanese and other world leaders, movie stars, writers, architects and the Beatles among others, is largely associated with the famous ''Plaza Accord,'' which in 1985 dramatically drove down the value of the dollar against the Japanese yen and the German mark
and helped avert a global financial crisis.
A brief, accurate translation of Bernanke's remarks, noted New York Post economics writer John Crudele, is, "we'll just print more money if the economy doesn't respond to traditional remedies." But while Bernanke insists that the government can print new money "at essentially no cost," Crudele supplies the historical context that the Fed governor artfully avoided: "The printing press image is a hot button with economists because that's exactly what the Germans did in the 1920s when that country was faced with huge budget deficits because of World War I." The resulting hyperinflation obliterated the German mark
's value, leading to the imperishable image of German citizens having to drag wheelbarrows full of money to stores to buy a day's worth of groceries.
Some Germans were reluctant to give up the familiar German mark
for the new euro.
Like the franc, the German mark
is only as old as the nation-state that produced it.
The ANN model is used to forecast the 90-day future spot rate for three currencies: the British pound, the German mark
, and the Swiss franc.