Question

Why was Europe heavily impacted by the Great Depression?

Answer 1

How did the Great Depression affect Europe? The United States lowered tariffs and demanded more European goods. American workers emigrated to Europe in large numbers to find jobs. U.S. banks stopped investments in Europe and demanded repayment of foreign loans.

Answer 2

This is because many places in Europe, for example Germany had taken loans from the USA for their developmental plans. But as the Wall Street Exchange crashed, in September 1929, many European banks also collapsed. America's economy fell half by half and they stopped giving loans or any kind of financial support as they themselves were in crisis. This lead many European companies into bankruptcy and they could not pay the wages of workers. Thus, Europe was heavily impacted by the Great Depression.

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