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World War One: reparations finally over 2, October 2010

Posted by thegulfblog.com in Russia.
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Germany has finally paid back all World War One reparations with a payment of £60m. Stemming from defeat and the Treaty of Versailles, Germany and its allies were saddled with enormous debts to pay back for ‘starting’ the war. The ‘war guilt’ price alone was some 100,000 tonnes of gold.

There were various plans that amended the amount to be paid (such as the 1924 Dawes Plan and the 1929 Young Plan) but the coming of Hitler ended any notions that Germany would fulfil its commitments.

The London Treaty in 1953 agreed to suspend payments until Germany was unified. Thus in 1990 the debt effectively began to ‘count’ again, though the majority of the debt was written off.

Why it was not all written-off is beyond me. I think that it’s truly absurd that Germany was still servicing this debt in any way, shape or form nine decades after the initial hopelessly biased and unfair punishment was passed down.

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Comments»

1. Paul - 2, October 2010

It’s funny but given that one of the commonly cited causes of World War 2 is the unjust reparations placed on Germany by the allies after World War 1, maybe we should be thankful Germany didn’t arm for a third round.

2. Abu Arqala - 2, October 2010

An interesting post would be the status of the debts owed by the victorious allies to the USA – which for the purposes of the debt insisted it was not legally an ally but rather a co-belligerent in that war.

I believe HM Govt remains resolutely in arrears on WW1, having settled WW2 debt this century.

While servicing the WW1 debts was not the only reason that reparations were imposed and later preserved,they were a material factor. More than once the Allies proposed a grand bargain in which reparations and their war debts would be canceled simultaneously.

One response: “They hired the money. Didn’t they?”

Another: the Johnson Debt Default Act.

davidbroberts - 3, October 2010

That would indeed be interesting.

3. Roger - 21, October 2010

Is it not now time for the U.S. G.B. and France to exonerate Germany of her war guilt stated in the unjust Treaty of Versailles.

4. caiomhghin - 22, March 2011

Its time for all of us to forget and piss on the Banking system forget it fight for our Christian value’s or die.Tiocfaidh àr là

5. Reperations ww1 | Consultingaviationservices - 27, May 2011

[…] World War One: reparations finally over « The Gulf blogThe reperations were so large because the carnage was so large. Furthermore it is a myth that the reperations caused the hyperinflation, that was caused by fiscal mismanagement by the German government. … Yes it was. Most Germans’, including Hitler didn’t think so, but in part the Treaty was to punish Germany for WW1. […]


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