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The Great Depression in France The crisis affected France a bit later than other countries, around 1931. As in the United Kingdom, France was recovering from World War I, trying without much success to recover the World War I reparations|reparations from Germany. This led to the occupation of the Ruhr at the beginning of the 1920s, which failure in turn led to the implementation of the Dawes Plan of August 1924 and the Young Plan of 1929. However, the depression had drastic effects on the local economy, and partly explains the February 6, 1934 riots and even more the formation of the Popular Front (France)|Popular Front, led by Section française de lInternationale ouvrière|SFIO socialist leader Léon Blum, which won the elections in 1936.
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