There Will Be the Devil to Pay Central Bankers, Uncertainty and Sensemaking in the European Financial Crisis of 1931
Book contents
- There Will Be the Devil to Pay
- Studies in Macroeconomic History
- There Will Be the Devil to Pay
- Copyright page
- Contents
- Frontispiece
- 1 Introduction
- 2 Central Bankers and Their World
- 3 Preparing for Crisis (May 11–May 19)
- 4 Foreign Creditors (May 16–May 25)
- 5 Moratorium or Guarantee? (May 25–May 27)
- 6 Guarantee at Last? (May 26–June 1)
- 7 Releasing the BIS Credit (May 29–June 5)
- 8 Surrounded with Trouble (June 5–June 10)
- 9 Where and How to Place? (June 8–June 13)
- 10 A World Political Problem (June 11–June 16)
- 11 Francis Rodd Makes Sense – and a Plot (June 9–June 20)
- 12 To Act Now If We Are to Act at All (June 16–June 27)
- 13 Germany Will Collapse (June 19–July 10)
- 14 Anxiety within Germany at Climax (July 11–July 23)
- 15 Going Off the Gold Standard? (July 14–August 21)
- 16 We Must Not Fool Ourselves Now (August 21–September 17)
- 17 As for the Future of England (September 16–October 23)
- The End (2024)
- Timeline
- Actors in the 1931 Financial Crisis Archives
- Acknowledgements
- Archives
- Notes
- Bibliography
- Index
7 - Releasing the BIS Credit (May 29–June 5)
Published online by Cambridge University Press: 21 December 2024
Book contents
- There Will Be the Devil to Pay
- Studies in Macroeconomic History
- There Will Be the Devil to Pay
- Copyright page
- Contents
- Frontispiece
- 1 Introduction
- 2 Central Bankers and Their World
- 3 Preparing for Crisis (May 11–May 19)
- 4 Foreign Creditors (May 16–May 25)
- 5 Moratorium or Guarantee? (May 25–May 27)
- 6 Guarantee at Last? (May 26–June 1)
- 7 Releasing the BIS Credit (May 29–June 5)
- 8 Surrounded with Trouble (June 5–June 10)
- 9 Where and How to Place? (June 8–June 13)
- 10 A World Political Problem (June 11–June 16)
- 11 Francis Rodd Makes Sense – and a Plot (June 9–June 20)
- 12 To Act Now If We Are to Act at All (June 16–June 27)
- 13 Germany Will Collapse (June 19–July 10)
- 14 Anxiety within Germany at Climax (July 11–July 23)
- 15 Going Off the Gold Standard? (July 14–August 21)
- 16 We Must Not Fool Ourselves Now (August 21–September 17)
- 17 As for the Future of England (September 16–October 23)
- The End (2024)
- Timeline
- Actors in the 1931 Financial Crisis Archives
- Acknowledgements
- Archives
- Notes
- Bibliography
- Index
Summary
In chapter 7, Releasing the BIS credit (May 29 - June 5), the BIS credit of 150 million schilling is released to the ANB as a moratorium is averted and a guarantee. Meantime, the issue of an Austrian government loan, re-emerges and it becomes clear that the French may not be able to or wanting to take the lead in organizing the loan. In Basel, the BIS is getting ready for the upcoming board and governors’ meeting, where the decision about another credit to the ANB will have to be discussed. Rodd prepares several notes and a plan for the meeting.
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- There Will Be the Devil to PayCentral Bankers, Uncertainty and Sensemaking in the European Financial Crisis of 1931, pp. 113 - 131Publisher: Cambridge University PressPrint publication year: 2025