Hitler’s Debt

Hitler’s Debt

How post-war finance remade Europe.


In this episode, host Carmen Hofmann speaks with historian Tobias Straumann about his book Hitler’s Debt and the financial decisions that shaped Europe’s post-war recovery.

We explore how settling Hitler’s unresolved debts, the 1953 London Debt Agreement, and bold U.S. policy choices helped turn a devastated continent into the “economic miracle” of the 1950s. Straumann explains why debt relief strengthened democracy, how leaders like Adenauer, Acheson, Schuman, Ben-Gurion and Sharett navigated moral and political dilemmas, and what the German case can teach us about today’s global debt crises.

A concise look at how financial strategy, diplomacy, and compromise built the foundations of modern Europe — and why those foundations matter now more than ever.

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Episoder(54)

Risk. Information. Noise

Risk. Information. Noise

Did bankers understand uncertainty better before financial models?In this episode we explore a question at the heart of finance: what is risk, really? Long before VaR models, stress tests, and algorit...

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Histories of Finance and Politics

Histories of Finance and Politics

Hugo Bänziger (Chairman of eabh) and Manfred Pohl (founder of eabh) come together for a rare conversation between two of the most experienced banking historians. They explore key milestones in Germany...

1 Sep 202530min

Capital in Banking

Capital in Banking

Capital Matters: Banking, Risk, and HistoryIn this episode, Carmen Hofmann (eabh) speaks with Simon Amrein (Lucerne) about the role of capital in banking—past and present. They explore how banks have ...

7 Jul 202538min

Single Currency

Single Currency

In this episode of 'Finance and History', Hugo Bänziger talks to Olli Rehn, Governor of the Bank of Finland, at the eabh annual conference. Together, they unpack the euro’s historic roots, from the La...

25 Jun 202535min

Capitalism, Populism, Democracy

Capitalism, Populism, Democracy

In this episode, we dive into how rising populism is reshaping capitalism and democracy. With Stefan Hofrichter (AllianzGI) Hans-Jörg Naumer (Allianz GI)—authors of Capitalism, Populism and Democracy—...

21 Mai 202539min

Canvas and Capital

Canvas and Capital

Is art a safe investment in times of war?In this episode, Kim Oosterlinck (General Director of the Royal Museums of Fine Arts of Belgium) and Carmen Hofmann (eabh) dive into the little-known yet fasci...

16 Apr 202523min

Banco do Brasil

Banco do Brasil

In this episode, Sebastian Alvarez (Universidad Adolfo Ibañez) & Carmen Hofmann (eabh) explore the powerful role of the Brazilian state in shaping the country’s financial system—focusing on the fascin...

16 Apr 202544min

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