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When the 1921 London conference to determine how much Germany should pay was called, the Allies calculated on the basis of what Germany could pay, not on their own needs. [170] In this way, Marks says, the Germans largely escaped paying for the war and instead shifted the costs onto American investors. [171]
Germany made its first payment of one billion gold marks in the summer of 1921 but after that paid little in cash and fell behind in its deliveries of materials such as coal and timber. [3] After Germany was declared in default in January 1923, French and Belgian troops occupied the Ruhr. Germany responded with passive resistance to the occupation.
As a result, the sum was split into different categories, of which Germany was only required to pay 50 billion gold marks (US$12.5 billion); this being the genuine assessment of the commission on what Germany could pay, and allowed the Allied powers to save face with the public by presenting a higher figure. Furthermore, payments made between ...
When Germany stopped making payments in 1932 after the agreement reached at the Lausanne Conference failed to be ratified, [12] Germany had paid only a part of the sum. This still left Germany with debts it had incurred in order to finance the reparations, and these were revised by the Agreement on German External Debts in 1953. After another ...
"The Food Supply of Germany During the War," Journal of the Royal Statistical Society (1920) 83#2 pp. 225–254 in JSTOR; Tobin, Elizabeth H. "War and the Working Class: The Case of Düsseldorf 1914–1918," Central European History (1985) 18#3 pp 4+ Vincent, Charles Paul. The Politics of Hunger: The Allied Blockade of Germany, 1915–1919 (1985)
Germany considers this treaty as the final regulation which concludes the question of open reparations which had been made in previous treaties such as the London Debt Agreement. [57] Greece rejects this notion and on 8 February 2015, the then-Greek Prime Minister, Alexis Tsipras demanded that Germany pay the "complete" reparations to Greece ...