Recollections of the German currency reform

It may not be politically correct to ask about the future of the euro. In the opinion of Stefan Homburg, University of Hannover, however, this question is justified because doubts regarding the future existence of the euro area are growing and because current developments are evoking the dark memories of the conditions leading to past currency reforms. In this article he recalls some salient features of past German currency reforms and examines them in relation to current events.