I’m referring to the same depression that happened globally originating from the Wall Street crash.

Austria was annexed by Germany in 1938. Meanwhile Hungary too needed to rely on fascist Germany and Italy for trade after it too was hit hard by the depression, true it also joined the axis also due to the peace treaties but other nations such as Turkey did not join the axis also after having its empire dismantled.

Many other treaties of Paris such as the treaty of Trianon and Saint Germain on Hungary and Austria were considerable harsher in comparison, their empire was dismantled and repetitions as well as demilitarisation were agreed. The money Germany was paying for the treaty of Versailles was helped by the Dawes plan where America helped Germany with its debts. This allowed Germany recover its economy in the late 1920’s, an era called the ‘golden era’ for the Weimar Republic after its turbulent early days of hyper inflation and political upheaval.