Jan 1923France and Belgiumoccupy Ruhr in responseto German failure topay war reparations
Jul 1923International recognitionof Turkish republic
Aug–Sep 1923Italy occupies Corfuin dispute with Greece
8–9 Nov 1923Nazi party attemptsto seize power
Nov 1923Hyperinflation means4 trillion German papermarks are now worthless than 1 U.S. dollar