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Dawes, who was the U.S. vice president at the time, received the Nobel Peace Prize of 1925 for "his crucial role in bringing about the Dawes Plan", specifically for the way it reduced the state of tension between France and Germany resulting from Germany's missed reparations payments and France's occupation of the Ruhr.
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.
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.
Thus, the Dawes Plan was negotiated after Prime Minister Raymond Poincaré's occupation of the Ruhr, and then the Young Plan in 1929. Also extremely important in the War was the participation of French colonial troops (who amounted for around 10% of the total number of troops deployed by France across the war), including the Senegalese ...
President Hoover in 1928. The Hoover Moratorium was a one-year suspension of Germany's World War I reparations obligations and of the repayment of the war loans that the United States had extended to the Allies in 1917/18.
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 successful negotiation of the Dawes Plan provided hope for Stresemann's foreign policy strategy emphasizing Germany's remaining economic soft power, since the co-author of the plan, Owen D. Young, was the chairman of General Electric and a major trading partner with the German firm AEG. [11]
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]