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Podcast: Seriously...
Episode: Welcome Money
Description: Between the fall of the Berlin Wall on 9 November 1989 and the policy's hastily enforced end on 29 December 1989, East German citizens claimed an estimated four billion Deutschmarks in so-called ‘Begrüßungsgeld’ or ‘welcome money’ from the West German authorities.Tens of thousands stood in line at banks and town halls up and down West Germany, waiting to collect their state-sanctioned gift of 100DM (around €80 today). For most East Germans, shortages of basic goods were a fact of daily life and luxuries were all but non-existent, this modest windfall represented the first true spending money that they had ever possessed, a...