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Rather, loans were taken out, placing Germany in an economically precarious position as more money entered circulation, destroying the link between paper money and the gold reserve that had been maintained before the war. With its defeat, Germany could not impose reparations and pay off her war debts now, which were now colossal. [116]
British public opinion wanted to make Germany pay for the War. [53] Public opinion favoured a "just peace", which would force Germany to pay reparations and be unable to repeat the aggression of 1914, although those of a "liberal and advanced opinion" shared Wilson's ideal of a peace of reconciliation. [14]
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 ...
Germany agreed to pay reparations of 132 billion gold marks to the Triple Entente in the Treaty of Versailles. 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.
Of this figure, Germany was only required to pay 50 billion gold marks ($12.5 billion), a smaller amount than they had previously offered for terms of peace. [65] Reparations were unpopular and strained the German economy but they were payable and from 1919 to 1931, when reparations ended, Germany paid fewer than 21 billion gold marks. [66]
The moves restored enough international confidence in Germany so that when Stresemann sought discussions with the Allied Powers which would take into consideration what Germany was financially capable of paying, the Reparations Commission set up the Dawes committee, headed by the American economist Charles Dawes. It recommended that total ...
A supplementary protocol signed in August 1918 required Russia to pay Germany war reparations of six billion marks. The treaty was controversial in Russia, giving a unifying cause to the White movement and opening a rift between the Bolsheviks and the Left Socialist-Revolutionaries , whose representatives withdrew from the Council of People's ...
Most of Germany's reparations payments were funded by loans from American banks, and the recipients used them to pay off loans they had from the U.S. Treasury. Between 1919 and 1932, Germany paid out 19 billion goldmarks in reparations, and received 27 billion goldmarks in loans from New York bankers and others.