What impact did World War I have on the economy of Europe?

Despite the fact that production of war necessities, such as automobiles and airplanes, skyrocketed, Europe suffered heavy debt thanks to World War I, and paying back this debt threw the economy of Europe into a period of great inflation. Out of all of Europe, Germany was hit the hardest.

By the end of the war, Europe owed other countries more than $10 billion. To offset this debt, countries began printing more money, which ultimately led to inflation. Middle class Europeans, who were relatively free of money worries before the war, began struggling just to make ends meet after the war.