During the great depression period in Europe, there was a sharp increase in the unemployment rate especially in Poland, Austria, and Germany. The unemployment rate had risen to as much as 20% whereas the rate of output had fallen 40$ approximately.
Hence, it is obvious that Central Europe was the prime region that had to face the greatest effects of the depression. A decrease in the demand and the falling prices also meant that there was yet another crisis created in the central European banks. Due to this reasons, banks had almost closed all their relationships with businesses. Moreover, in the year 1931, the Creditanstalt bank ended up collapsing resulting in a financial panic.
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