Germany

Crisis timeline

Every distinct (year, type) event, most recent first, with the chronologies flagging it. Start-year sources (GMD, JST) do not mark continuation years, so long episodes show lower agreement after their first year.

1. 2021
   Bankingesrb1 source
2. 2020
   Bankingesrb1 source
3. 2013
   Bankingesrb1 source
4. 2012
   Bankingesrb1 source
5. 2011
   Bankingesrb1 source
6. 2010
   Bankingesrb, rr2 sources
7. 2009
   Bankingesrb, laeven_valencia, rr3 sources
8. 2008
   Bankingesrb, gmd, jst, laeven_valencia, rr5 sources
9. 2007
   Bankingesrb, rr2 sources
10. 2005
    Currencyrr1 source
11. 2003
    Bankingesrb1 source
12. 2002
    Bankingesrb1 source
13. 2001
    Bankingesrb1 source
14. 1999
    Currencyrr1 source
15. 1997
    Currencyrr1 source
16. 1984
    Currencyrr1 source
17. 1979
    Bankingrr1 source
18. 1978
    Bankingrr1 source
19. 1977
    Bankingrr1 source
20. 1974
    Bankingesrb1 source
21. 1953
    Sovereign debtrr1 source
22. 1952
    Sovereign debtrr1 source
23. 1951
    Sovereign debtrr1 source
24. 1950
    Sovereign debtrr1 source

    Currencygmd, rr2 sources
25. 1949
    Sovereign debtrr1 source
26. 1948
    Sovereign debtgmd, rr2 sources

    Currencyrr1 source
27. 1947
    Sovereign debtrr1 source
28. 1946
    Sovereign debtrr1 source
29. 1945
    Sovereign debtrr1 source

    Currencygmd, rr2 sources
30. 1944
    Sovereign debtrr1 source
31. 1943
    Sovereign debtrr1 source
32. 1942
    Sovereign debtrr1 source
33. 1941
    Sovereign debtrr1 source
34. 1940
    Sovereign debtrr1 source
35. 1939
    Sovereign debtrr1 source
36. 1938
    Sovereign debtrr1 source
37. 1937
    Sovereign debtrr1 source
38. 1936
    Sovereign debtrr1 source
39. 1935
    Sovereign debtrr1 source
40. 1934
    Sovereign debtrr1 source
41. 1933
    Sovereign debtrr1 source
42. 1932
    Sovereign debtgmd, rr2 sources

    Bankingrr1 source
43. 1931
    Bankingjst, rr2 sources
44. 1930
    Bankinggmd, rr2 sources
45. 1929
    Bankingrr1 source
46. 1924
    Currencyrr1 source
47. 1923
    Sovereign debtrr1 source

    Currencyrr1 source
48. 1922
    Sovereign debtgmd, rr2 sources

    Currencyrr1 source
49. 1921
    Currencyrr1 source
50. 1920
    Currencyrr1 source
51. 1919
    Currencyrr1 source
52. 1918
    Currencygmd, rr2 sources
53. 1914
    Bankinggmd1 source
54. 1901
    Bankinggmd, jst, rr3 sources
55. 1891
    Bankinggmd, jst2 sources
56. 1880
    Bankingrr1 source
57. 1874
    Bankinggmd1 source
58. 1873
    Bankingjst1 source
59. 1872
    Currencygmd, rr2 sources
60. 1863
    Currencyrr1 source
61. 1862
    Currencygmd, rr2 sources
62. 1857
    Bankinggmd, rr2 sources
63. 1850
    Sovereign debtgmd, rr2 sources
64. 1815
    Currencyrr1 source
65. 1814
    Sovereign debtrr1 source

    Currencyrr1 source
66. 1813
    Sovereign debtrr1 source

    Currencygmd, rr2 sources
67. 1812
    Sovereign debtgmd, rr2 sources
68. 1807
    Sovereign debtgmd, rr2 sources

Source: Global Macro Database 2026_06 (Müller, Xu, Lehbib & Chen 2025) | Jordà-Schularick-Taylor Macrohistory R6 | Laeven & Valencia (2020) | Reinhart-Rogoff via HBS BFFS | ECB/ESRB Financial Crises Database Methodology

Macro context around each episode

Inflation, central-bank policy rate, and government debt in a window of five years either side of each crisis episode (consecutive crisis years bridged across gaps of up to two years). Crisis years shaded.

Source: Global Macro Database 2026_06 (Müller, Xu, Lehbib & Chen 2025) Inflation is % year over year; policy rate is the central-bank rate in %; government debt is % of GDP. Methodology