The Great Depression induced a drop in the standard of living and the political mood of the country shifted further toward the right. In 1932 Horthy appointed a new prime-minister, Gyula Gömbös, who changed the course of Hungarian policy towards closer cooperation with Germany. Gömbös signed a trade agreement with Germany that drew Hungary's economy out of depression but made Hungary dependent on the German economy for both raw materials and markets. On 2 November 1938, as the result of the First Vienna Award parts of Czechoslovakia – Southern Slovakia and a part of Carpathian Ruthenia – were returned to Hungary, an area amounting to 11,927 km2 and a population of 869,299 (86.5% of which were Hungarians according to the 1941 census). Between 5 November and 10 November, Hungarian armed forces peacefully occupied the newly transferred territories. Hitler later promised to transfer all of Slovakia to Hungary in exchange for a military alliance, but his offer was rejected. Instead, Horthy chose to pursue a territorial revision to be decided along ethnic lines. In March 1939, the Czecho-Slovak Republic was dissolved, Germany invaded it, and the Protectorate of Bohemia and Moravia was established. On 14 March, Slovakia declared itself to be an independent state.