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Deutschemark

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Deutschemark
The former currency of Germany. It was introduced in 1948, replacing the Reichsmark. It became one of the most important currencies in the world. For example, it was one of the currencies included in the basket that determined the value of Special Drawing Rights. After 1990, the deutschemark became the currency of the unified Germany. It was replaced by the euro in 1999 and ceased circulation in 2002.


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The country was lumbered with debt, tied to a ridiculous currency peg to the Deutschemark, and even Maggie's old pals at the Sun and Times newspapers turned against her.
In just the past 12 months it has dropped 16 percent against the Deutschemark, 20 percent against the yen, and 30 percent against the Swiss franc.
Such a process is assumed in those analysts' interpretation to have been operative when sterling lost its role to the dollar in the 1930s, once the United Kingdom's balance of payments and monetary discipline flagged, and the dollar was spared such a fate in turn during the 1970s only because neither the deutschemark nor the yen were a viable alternative at the time.
 
 
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