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The Dawes Plan temporarily resolved the issue of the reparations that Germany owed to the Allies of World War I.Enacted in 1924, it ended the crisis in European diplomacy that occurred after French and Belgian troops occupied the Ruhr in response to Germany's failure to meet its reparations obligations.
The Labour Party opposed the occupation of the Ruhr throughout 1923, which it rejected as French imperialism. The British Labour Party believed it had won when Poincaré accepted the Dawes Plan in 1924. [40] Despite his disagreements with the United Kingdom, Poincaré desired to preserve the Anglo-French entente and moderated his aims to a degree.
The end of passive resistance in the Ruhr allowed Germany to undertake a currency reform and to negotiate the Dawes Plan, which led to the withdrawal of French and Belgian troops from the Ruhr Area in 1925. The agreement of the Dawes plan in late 1924 also led to a resumption of reparations payments in hard cash and gold.
The adoption of the plan was followed by the Locarno Treaties. The subsequent "spirit of Locarno" saw an apparent reconciliation between the European Powers. The implementation of the Dawes Plan also saw a positive economic impact in Europe, largely funded by American loans. [74] Under the Dawes Plan, Germany always met her obligations. [75]
The Commission relied on a General Secretariat and on General Services, both headquartered in Paris. It was restructured and downsized in late 1924 as a consequence of the Dawes Plan, [3]: 13 and eventually disbanded in 1930 following the adoption of the Young Plan and the establishment of the Bank for International Settlements (BIS). The BIS ...
1 September: The Dawes Plan to lower and reschedule Germany's reparations payments comes into force. [67] 11 October: The Reichsmark replaces the temporary Rentenmark, which had been introduced on 15 November 1923. [68] 7 December: The second Reichstag election of 1924 ends with the same parties in the top three places as after the 4 May vote. [69]
6 June – Germany accepts the Dawes Plan for the reduction of World War I reparations. 16 August – Representatives of the French government (Gaston Doumergue was President of France, Édouard Herriot was prime minister) agree to leave the Ruhr in the Occupation of the Ruhr during the London Conference of World War I reparations.
The Locarno Treaties were seven post-World War I agreements negotiated amongst Germany, France, Great Britain, Belgium, Italy, Poland and Czechoslovakia in late 1925. In the main treaty, the five western European nations pledged to guarantee the inviolability of the borders between Germany and France and Germany and Belgium as defined in the Treaty of Versailles.