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What if Europe had acted smarter around the Austrian Creditanstalt bank crisis and bailed it out before it declared bankruptcy, preventing the series of bank failures that came with it and the official start of Depression in Europe?
https://en.wikipedia.org/wiki/Creditanstalt#First_Republic
Too late after the fact the institution was backstopped by the Austrian government, but the damage was done and spread to the rest of the banking institutions of central Europe and initiating the German Banking Crisis that helped lead to the rise of the Nazis.
So if the bankruptcy was averted by vigorous action by either Austria or a European consortium, would this have averted the Great Depression in Europe as we know it and prevented the rise of the Nazis and WW2 or not? If it does dramatically lessen the impact on Europe while the US continues to screw up and get worse, what impact does it have on the world as a whole?
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