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The Young Plan was a 1929 attempt to settle issues surrounding the World War I reparations obligations that Germany owed under the terms of Treaty of Versailles.Developed to replace the 1924 Dawes Plan, the Young Plan was negotiated in Paris from February to June 1929 by a committee of international financial experts under the leadership of American businessman and economist Owen D. Young.
A referendum on the Young Plan was held in Germany on 22 December 1929. It was an attempt to use popular legislation to annul the Young Plan agreement between the German government and the World War I opponents of the German Reich regarding the amount and conditions of reparations payments. The referendum was the result of the initiative ...
The Young Plan was a constitutional reform proposal carried out in 1946 attempting to introduce representative democracy in Colonial Hong Kong.Named after the then Governor, Mark Young, it was the first major reform proposal to give Hong Kong inhabitants a greater share of managing their own affairs by widening the base of Hong Kong's political system through the creation of a new Municipal ...
Owen D. Young (October 27, 1874 – July 11, 1962) was an American industrialist, businessman, lawyer and diplomat at the Second Reparations Conference (SRC) in 1929, as a member of the German Reparations International Commission.
The implementation of the Young Plan required the Anglo-French withdrawal from the Rhineland within months. [82] Despite the reduction, there was increasing German hostility to the plan. For example, the Law against the Enslavement of the German People, or Freedom Law, was proposed by the nationalist politician Alfred Hugenberg .
A solution was finally agreed upon that shifted the amounts due to the various creditors. Germany waived the so-called surplus, the difference between the Dawes Plan and the Young Plan during the five-month transition period, amounting to 300 million Reichsmarks. That alone satisfied three-quarters of the British demands.
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He collaborated with other prominent economists to form the 1929 Young Plan to modify the way that war reparations were paid after Germany incurred large foreign debts under the Dawes Plan. [15] In December 1929, he caused the fall of the Finance Minister Rudolf Hilferding by imposing upon the government his conditions for obtaining a loan. [7]