East German Mark

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East German Mark

The currency of the former East Germany. It was in use between 1948 and 1990, when it was theoretically pegged to the (West German) deutschemark at par, but it was largely inconvertible. After German reunification in 1990, the deutschmark replaced the East German mark.
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INTERESTINGLY, that P ostmark rating puts Ambobo 20lb ahead of anything Gold Medallist has produced and 21lb superior to Royal Paradise's Leopardstown win nine days ago, yet both are shorter in the current market.
East Germany knew that West Germany would exchange ostmarks for DMs not at their black market rate, but rather at a politically determined rate.
The one-for-one conversion of East German ostmarks for deutsche marks, the privatization and restructuring of state enterprises, and the striking initial jump in real wages are no longer matters of policy debate, although they may have left their mark on the economy.
1938: Adolf Hitler invaded Austria, which was made a German Reich province named Ostmark.
1938: Hitler invaded Austria, making it a German Reich province named Ostmark.
The initial Faustian bargain in 1990 between the West German unions and the Kohl government to convert the Ostmark at 1:1, rapidly raise East German wage levels, and transfer huge subsidies eastwards did cause very high and persistent under- and unemployment in the neuen Bundeslander.
During the blockade, Berlin had two competing currencies, the DM and the ostmark.
The first, the decision to exchange the near-worthless Ostmark with the Deutschemark at a rate of one-for-one, was followed by an entry rate into the euro that left its corporate sector gasping for breath and clamouring for lower interest rates.
The scale of East German savings is not known for certain, but is estimated at around Ostmark 180 billion.
The reluctant conclusion of the study is that there was precious little industrial unrest or political dissent in Ostmark, which may account for the book's brevity and the fact that one-third of it is devoted to the period before the Anschlu[Beta].
They'll be ordered to change their euros into old East German Ostmarks, show their passports to buy a sausage and be warned not to carry "decadent" western literature.