The Economist (US)

The Ost-mark's last laugh. (economics focus) (Business)

The Economist (US) | April 28, 1990 | Copyright

West Germany's government has announced the terms on which it will convert East German marks into real money: with restrictions, one Ostmark will get you one D-mark. Is this too generous?

THE governments of the two Germanies have agreed that their monetary systems will merge on July 2nd. East Germans will be able to exchange 4,000 Ost-marks of their savings into D-marks at the highly favourable rate of one-to-one. For amounts beyond that, each D-mark will cost two Ost-marks. That also is generous, however much East Germans, who believe that they were promised more, may…

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