Europe spent these years rebuilding and coming to terms with the vast human cost of the conflict. The economy of the United States became increasingly intertwined with that of Europe. In Germany, the Weimar Republic gave way to episodes of political and economic turmoil, which culminated with the German hyperinflation of 1923 and the failed Beer Hall Putsch of that same year. When Germany could no longer afford war payments, Wall Street invested heavily in European debts to keep the European economy afloat as a large consumer market for American mass-produced goods. By the middle of the decade, economic development soared in Europe, and the Roaring Twenties broke out in Germany, Britain and France, the second half of the decade becoming known as the "Golden Twenties". In France and francophone Canada, they were also called the "années folles" ("Crazy Years").

When did the hyperinflation of  1923 occur?