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Helmut Schmidt, who served as Chancellor from 1974-1982, was part of a political generation which rebuilt Germany as a true democracy, driven by the concern that everything should be done to prevent Germany from falling back into dictatorship and war. ... Isolation within the European Union or the euro area would be extremely dangerous. Schmidt. HAMBURG, Germany >> Former chancellor Helmut Schmidt, who led West Germany amid terrorist strikes in the 1970s and laid the foundations for the euro currency, died Tuesday, aged 96. He died in his.