The Inter-war Period is divided into two distinct phases: the Period of Hope (1918-1928) and the Period of Doubt (1929-1939). This era was marked by fluctuating political stability and economic conditions in Europe following World War I.
- THE PERIOD OF HOPE (1918-1928)
- Optimism for Democracy:
- Following WWI, many believed that democracy would prevail globally. The establishment of democracies in various European nations, notably the Weimar Republic in Germany, symbolized this hope.
- League of Nations:
- Created to foster international cooperation and prevent future conflicts.
- Significant treaties, such as the Locarno Treaty (1925), were signed, aiming to secure peace in Europe and stabilize borders.
- Economic Recovery:
- Countries like France and Britain improved their economies by securing loans from the USA.
- Germany benefited from the Dawes Plan (1924), which restructured reparations payments and brought in American investments, promoting recovery.
- THE PERIOD OF DOUBT (1929-1939)
- Growing Tensions:
- The Great Depression (1929-1931) triggered a severe economic collapse, leading many democratic governments to fall to dictatorships in countries like Italy, Germany, and Russia.
- Failure of Disarmament:
- The Disarmament Conference failed to achieve significant agreements, allowing Germany to begin rearmament after 1933, which raised alarms in neighboring countries.
- Formation of Alliances:
- Alliances like the Rome-Berlin Axis and the Anti-Comintern Pact rekindled the fears reminiscent of pre-WWI alliances.