FRG Economy -1973-81 - SPD

When was SPD gov of FRG?

1973-81

Who was gov of FRG 1973-81?

SPD

What crisis did SPD 1973-81 deal with?

Oil crisis of 1973 + 78

What 2 years was there an oil crisis?

1973

1978

FRG oil spending (price of 140 million tonnes)

1972: DM10.8 billion

1973: DM32.8 billion

1978: DM49 billion

How much was 140 tonnes of oil in 1972?

DM10.8 billion

How much was 140 tonnes of oil in 1973?

DM32.8 billion

How much was 140 tonnes of oil in 1978?

DM49 billion

What year was 140 tonnes of oil DM10.8 billion?

1972

What year was 140 tonnes of oil DM32.8 billion?

1973

What year was 140 tonnes of oil DM49 billion?

1978

How much oil did FRG get from OPEC?

40%

Why was OPEC putting up oil prices in 1973 and 1978 a problem for FRG?

FRG got 40% of oil from OPEC

When did OPEC put up oil prices?

Outbreak of Yom Kippur war

Who put up the oil prices in the oil crisis 1973+78?

OPEC

2 consequences of oil crisis

Unemployment rose (1.7 million 1981)

Gov banned recruitment of guest workers

When did Gov ban recruiting guest workers?

During oil crisis

What did Oil crisis cause unemployment to reach?

1.7 million in 1981

When did unemployment reach 1.7 million?

1981

Why was FRG not hit as hard as other countries by oil crisis?

Had steady exports so economy recovered quickly

What helped FRG economy recover quickly 1973-81?

Steady exports

7 SPD gov responses to oil crisis

Schmidt convinced other world leaders to not place protective tariffs

Car-free Sundays

Speed limit on autobahn

> investment in atomic power

Promote energy saving tactics for homes

Ban on recruiting guest workers

Didn't subsidy oil prices

What did Schmidt do to protect world trade during oil crisis?

Convince other world leaders to not place protective tariffs

Why did Schmidt convince other world leaders to not place protective tariffs after oil crisis?

Protect world trade

Why did FRG SPD 1973-81 gov start investing in atomic power?

Lower dependence on oil

Why didn't the SPD gov 1973-81 subsidise oil prices?

Encouraged cutbacks coz it was so expansive

How did SPD gov 1973-81 encourage cutbacks on oil?

Didn't subsidise it

Pushed energy saving tactics in homes

Car-free Sundays

Speed limit on autobahns

Overall success of FRG SPD economy 1973-81

Managed better than competitors and economy recovered rapidly

Success of FRG SPD economy 1973-81 (3)

Exports stayed healthy

Economy recovered rapidly

1978 FRG exported more to OPEC countries than it imported

Failures of FRG SPD economy 1973-81 (2)

Rising inflation

Early 80s growth slower than 60s

1980s economic growth compared to 1960s

1980s growth was slower

1978 FRG export fact

1978 FRG exports more to OPEC countries than it imports

When did FRG export more to OPEC countries than it imported?

1978