Germany will finish Sunday to pay reparations imposed by the Allies in 1919

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Nearly 92 years after the First World War, Germany will finish payable on Sunday, the Allies imposed reparations.

The last installment to pay the amount due, almost 200 million euros, will be Sunday, when we celebrate the 20th anniversary of the reunification of Germany, divided into two at the end of World War II.

Repairs worth 269 million marks of the Reich, imposed by the Treaty of Versailles in 1919, have weighed heavily on the German governments of the Weimar Republic, in the ’20s, and helped Adolf Hitler came to power in 1933.

These damages were meant to compensate losses suffered by France and Belgium during the war and to help cover the cost of this war for Allied.

Payment of reparations, Hitler suspended, which was canceled by “Hoover moratorium, in 1932. But Germany remained its loans to be repaid debts before that date.

West Germany agreed to pay a part of them since 1953, but remained to pay these loans and interest accrued between 1945 and 1953.

At that time, reached an agreement under which Germany would pay them to 20 years after the reunification of the country, considered a highly unlikely scenario at the time.

But the Berlin Wall collapsed and Germany ending bills payable, long considered mere objects of collection, which today are held by pension funds and even individuals.

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Posted by P.Jeanelle on Sep 30 2010. Filed under Featured News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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