After the end of World War I, a peace treaty was signed on June 28, 1919 in Versailles and under it lost. Germany was accused of paying war reparations. In 1921, the specially appointed Inter-Allied Compensation Commission set the total amount of compensation to the Entente and the Allied Powers for losses incurred during the hostilities at 132 billion gold marks.
At the 1920 Spa Conference, it was agreed that France would receive 52 percent of the vote. Compensation amounts, England 22%, Italy 10%, Belgium 8 loyal, Portugal and Japan 0.75% each. The remaining 6.5 percent. Greece, Romania, Yugoslavia and other countries eligible for.
In August 1921 Germany paid the first installment of one billion gold marks, However, from the beginning of the following year, the German government began to introduce new difficulties, and since the country did not have enough capacity to repay, reparations were stopped.
In the twenties of the last century, the rules for the payment of compensation were changed twice, which led to a slight decrease in its total value to 112 billion gold marks. According to various calculations, the Weimar Republic paid about 25-30 percent of the amount by 1932. The amount of compensation originally envisaged. After Hitler came to power, payments were suspended.
Austria-Hungary paid almost no reparations. By 1922, Bulgaria paid 173 million gold francs, and in 1923 the amount of Bulgarian reparations was reduced to 550 million gold francs. At the Lausanne Conference in 1932, Bulgarian and Turkish indemnity obligations were cancelled.
After World War II, the Federal Republic of Germany assumed responsibility for the entire remaining amount of World War I reparations. In 1953 at a conference in London proved it Withdrawals must be completed by 1983. The accrued interest was to be paid by Germany only after future reunification and the first installment was paid in 1996.
Many historians over time have concluded that the Treaty of Versailles did not achieve its goals, and burdening the country with huge debts – in which Germany was supposed to cover not only the losses of the war it caused, but all the costs of the war – was the best solution.
After the end of World War II, the approach changed, and although Germany had to financially compensate other countries, more emphasis was placed on rebuilding Europe.
– After World War II it was decided to hang the leaders but not to punish the nation. After the First World War, the opposite was true – the economist commented. Mark Harrison.
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