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Cambridge University Press 978-1-108-49978-1 — Central Bank Independence and the Legacy of the German Past Simon Mee Index More Information Cambridge University Press 978-1-108-49978-1 — Central Bank Independence and the Legacy of the German Past Simon Mee Index More Information Index 20 July group, 81, 219, 221, 223, 225–7, Sparkassen- und Giroverbändes und 250 Girozentralen), 133 Auschwitz, 229, 300 Abs, Hermann Josef, 103, 259 Austria, 45, 116 Adenauer, Konrad, 16, 27, 118, 120–2, 124, 127, 137–8, 140–1, 144–5, 150, balance of payments, 46–7, 135 155, 158–9, 164–5, 167, 169–70, Bank deutscher Länder (BdL), 11–12, 14, 174–5, 183, 187, 198, 221, 249, 262, 17–18, 25, 51, 64, 77, 85, 88, 92, 94, 312, 319, 321, 323 101, 106, 110, 118, 169, 252, 267, criticism of the Bank deutscher Länder, 278, 317–18, 321 142, 150, 166, 173–4, 176, 184, 187, and the ‘Becket’ effect, 107 298 balance of payments crisis, 135 Gürzenich affair, 25, 30, 151, 153, Bank deutscher Länder Law of 1948, 96 175–7, 179–81, 183–4, 199, 280, becoming obliged to support the general 319 economic policy of the government, Kanzlerdemokratie, 16, 159, 298, 319 146 opposition to central bank independence, central bank council, 11, 96–7, 102, 105, 11, 16, 125, 136, 142, 148, 151, 167, 150, 154–5, 174–6, 278 173, 177, 184, 189, 254 communication channel, 109, 131, 162 sovereignty, 15–16, 319 continuity with the Bundesbank, 196, strained relations with Ludwig Erhard, 199, 251 170, 181 continuity with the Reichsbank, 14, Aktuell (magazine), 201 103–4, 148, 196, 201, 255, 268, Allied Banking Commission (ABC), 96, 99, 306–8, 320 102–3, 109, 111–12, 121–4, 145–6 counterproposal to Bundesbank Law ability to veto central bank council draft of the finance ministry in early decisions, 111 1950, 125 Allied High Commission, 144 counterproposal to Bundesbank Law Allied Reparation Commission (ARC), 47 draft of the finance ministry in late Allies (First World War), 46–7, 52, 59, 61 1950, 138 Allies (Second World War), 33–4, 79, 82, criticism of government economic policy, 95, 147, 149 190 Allies (western), 11–12, 17, 28, 30, 90, 92, discussions with the Bundesverband der 95, 99, 101, 135–6, 148–9, 151, 172, Deutschen Industrie, 171 189, 259, 310, 317, 319 embracing the inter-war record of Andriessen, Frans, 325 Wilhelm Vocke, 15, 115, 148, 160, anniversaries, monetary, 32, 257–8, 302–5, 179–80, 191, 268, 321 307, 309, 322 establishment of, 10–11, 30, 46, 90, Anti-cartel Law, 155, 187 94–5, 149, 154, 179, 305 Association of German Savings Banks and first emergence of its name, 99 Giro Institutions growing public profile of, 161, 169, 190 (Arbeitsgemeinschaft Deutscher Gürzenich affair, 25, 30 346 © in this web service Cambridge University Press www.cambridge.org Cambridge University Press 978-1-108-49978-1 — Central Bank Independence and the Legacy of the German Past Simon Mee Index More Information Index 347 influencing the Bundesbank Law debate, attitude regarding the media, 57, 59, 199, 18, 92, 94, 126–8, 130, 148, 197, 318 208–9, 249, 264 Korean crisis, 141 attitude towards National Socialism, legal uncertainty in the early post-war 78–9, 81, 198 years, 94, 108–9, 111, 119, 121, 124, background, 44, 78, 254–5, 268, 270 127, 136, 162, 318 Bundesbank press department coming opinions of West German elites prior to under the jurisdiction of, 202 the establishment of, 30, 96–7 circle of friends (Freundeskreis), 20, 31, political attacks on, 108, 113, 120, 130, 79–80, 86, 88, 192–4, 196, 198, 218, 139, 150, 163, 171, 184 220–1, 223, 227–30, 250–1, 322 press department, 108, 110, 115, 141, short comprehensive summary, 21, 162, 173, 203 195, 224–6, 228–9, 250, 322 press policy, 30, 109, 111, 133, 162, 172 concentration camps, 80 reports concern about the Social Democratic annual, 162 Party, 251 monthly, 110, 143, 162, 165 Continental Oil, 81 subject to instructions by the Allies, 11, departure from the Bundesbank, 252, 96, 161 254, 270 task force on the Bundesbank Law, 120 departure from the Reichsbank, 76, tightening monetary policy, 142, 165–6, 79–80, 85–6, 225, 308–9 171, 173–4, 176, 278, 280, 298 financial persecution of Jews in the Third Bank for International Settlements (BIS), Reich, 78 59, 61, 78, 325 fixed exchange rate, 257, 269–70 Bank of England, 23, 39, 44, 52, 57, 59, 91, and Fritz Knapp Verlag, 208 99, 102, 105, 111, 132–3, 267, 305 Gestapo interrogation, 80 Bank of France, 91, 99, 132–3 gold standard, 39, 244–5 Bank of Hungary, 100 and Hjalmar Schacht, 19, 45, 57, 79, 88, Baranyai, Leopold, 100 196, 201, 211–12, 215, 217, 220, Bardepot, 281 231, 321 Baumgarten, Hans, 131 Im Kampf um gutes Geld (book), 249 Bavaria Party, 146 Kreisau Circle (Kreisauer Kreis), 81 Becket effect, 107 and Ludwig Erhard, 247 Belgium, 48, 54 Margarine-Union, 79 Benning, Bernard, 103 Nuremberg trials, 21, 80–1, 86, 193, 219, Berg, Fritz, 166, 170–1, 177, 191 223, 226 Berliner Börsen Zeitung (newspaper), 56 participation in the 1938 conference, 78, Berliner Börsen-Courier (newspaper), 56 81, 198, 218 Berliner Handels-Gesellschaft, 228 portrayed as ‘president of the Berliner Tageblatt (newspaper), 56 deutschmark’, 20, 200, 320 Bernard, Karl, 103–4, 107, 109, 111, as the public face of the Bundesbank, 35, 113–14, 118, 120, 138–9, 142, 145, 194, 196, 199, 209, 234, 320 147, 151–2, 154–5, 160–1, 170, Reichsbank advisory council, 79, 215 174–5, 186, 199, 279 Reichsbank memorandum, 19, 73, 74, Bernhuber, Maximilian, 229 76, 81, 194–5, 198–9, 218, 224, 250 Bild (newspaper), 1, 316 seeking co-operation with the interview with Mario Draghi, 1, 4, 7, 22, government, 263 314 signature on banknotes, 221, 308 interview with Wilhelm Vocke, 179 speeches, 208–9, 231, 240–8 Blessing, Karl, 19, 21, 31, 35, 201, 214, third inflation, 231–3, 243 216–17, 219, 221, 249, 251–3, 256, Verteidigung des Geldwertes, Die (book), 208 262–3, 269, 271, 289, 308, 311, 323 and Wilhelm Vocke, 267 and 20 July group, 81, 198, 219, 221, Young Plan, 59 223, 225–7, 250 Blessing, Oscar, 233 arrival at the Bundesbank, 198–9, 201, Boden, Wilhelm, 102, 120 251 Brandt, Willy, 198, 234, 254, 262, 283 © in this web service Cambridge University Press www.cambridge.org Cambridge University Press 978-1-108-49978-1 — Central Bank Independence and the Legacy of the German Past Simon Mee Index More Information 348 Index Braunbuch (book), 220 total number of drafts of, 119 Brawand, Leo, 116 and the West German constitution, 9 Bretton Woods, 238–9, 269, 290, 299 central bank council, 188, 199, 234, Brinkmann, Rudolf, 77 298–9, 301, 327–8 Brüning, Heinrich, 27, 65–7, 132, 140, 172 communication channel, 258, 271 Bundesbank, 5, 9, 11, 19, 21–2, 29, 59, 64, continuity with the Bank deutscher 75, 81, 87–8, 102, 204, 220, 255, Länder, 196, 199, 201, 251, 309 273–4, 278, 281, 289, 315–16, 318, continuity with the Reichsbank, 14, 19, 322, 324, 326, 329–30 31, 196, 201, 251, 255, 257, 268, accused of forcing Karl Schiller’s 306–8, 311, 320 resignation, 284–5 engaging with the media, 32, 196, 209, accused of toppling Ludwig Erhard’s 213, 239, 249, 256, 267, 287–8, 298, government, 208, 248, 277 309, 311–12, 323, 326, 331 Bundesbank Law of 1957, 5, 9–10, European Monetary System, 299–301 12–13, 17–18, 24, 30–1, 150, 183–4, headquarters as ‘symbol of the stability 191, 197, 199, 232, 238, 240, 248, culture’,24 254–5, 259, 261, 270, 277, 279, 282, as a model for the European Central 284–7, 293, 297, 300, 309, 312, Bank, 2, 4, 327–31 317–19, 323, 326, 331 post-war success of, 2 advisory board (Beirat), 125, 137, 166, press department, 21, 192, 195–7, 201–3, 169, 172 207, 209, 218, 223, 228–30, 249, 271 arbitration committee, 125–6, 137, press policy, 198, 204–5, 249 144, 189, 191, 263, 294–5, 320 reports debate as to whether it should be a annual, 202–3, 209 decentralised or centralised monthly, 202–5, 208–9, 285–7, 312, 323 institution, 10, 90, 152–5, 157, 175, sovereign bond purchases, 4 187 Stunde Null, 14, 320 debate influenced by the business tightening monetary policy, 247, 254, cycle, 94, 108, 153 275–7 entrenching a power struggle, 11, 26, Transition Law of 1951, 94, 146–8, 150, 28, 30, 32, 93, 147, 151–2, 155, 189, 152–3, 161, 190, 304, 318 312, 317, 319 Währung und Wirtschaft in Deutschland first draft of, 123 1876-1975 (book), 307 inflation narratives, 25, 31 Bundesrat, 36, 38, 119, 136–8, 155 and Konrad Adenauer’s Bundestag, 29, 91, 95, 119, 139–40, 152–3, Kanzlerdemokratie,16 155, 157, 161, 170, 183, 294 ministerial responsibility over, 121, Bundesverband der Deutschen Industrie 154, 296 (BDI), 29, 140, 153, 166, 169–72, Munich conference in 1950, 90 176, 191 Novellierung debate of 1973, 26, 255, Burkhardt, Otto, 102, 120 257, 281, 288–9, 291–4, 296–7, Bütefisch, Heinrich, 192 300–1, 312, 323 outline of, 187–9, 191 cabaret, 20, 192–3, 195, 223, 227, 250 passage through parliament, 187 Carter, Jimmy, 275 seen by politicians as a means of central bank independence, 7, 17–18, 21, asserting federal influence over the 23, 30, 34, 45, 75, 84, 87, 132, 153, central bank, 11, 119, 154, 188 181, 246, 248, 254, 257, 261, 274, and the Social Democratic Party 280, 287, 293–4, 302, 304, 318, 323, economics committee, 175 329, 331 as a subject of debate, 8, 11, 18, 35, 91, consensus fracturing since global finance 93–4, 104–5, 117, 119, 123, 126, crisis, 22 130, 133, 135, 140–1, 144, 150, 155, inflation narratives being used in support 168, 171 of, 8–9, 24–5, 92, 124, 126, 129, supporting the general economic policy 134, 145–6, 158, 168–9, 177, 185–6, of government, 53 191, 197, 233, 246–7, 251, 286, 320 © in this web service Cambridge University Press www.cambridge.org Cambridge University Press 978-1-108-49978-1 — Central Bank Independence and the Legacy of the German Past Simon Mee Index More Information Index
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