On 5 August the one millionth VW Beetle leaves the assembly line in Wolfsburg. An absolute top seller, the car becomes a symbol of what went down in history as the Economic Miracle.
In Toulouse (France) the Airbus consortium is founded as a Franco-German joint venture. Today, Airbus S.A.S. is the world’s second-largest aircraft manufacturer.
Postal Reform I marks the beginning of the privatisation of the giant publicly-owned corporation that is Deutsche Bundespost. The privatisation is regarded as one of the biggest reforms in German economic history.
The Treuhandanstalt, a government-owned but independent trust agency, begins transforming the socialist planned economy of the former East Germany with its several thousand state-owned enterprises into a market economy.
From 1948 until 1998 the Deutsche Mark is the official currency as “book money”, until 2001 as cash. It is replaced on 1 January 2002: Germany and 11 other EU Member States introduce the euro.
The German share index DAX passes the 10,000-point mark for the first time. It reflects the performance of the 30 biggest German companies with the highest sales.