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Thread: Germany Still Paying Off WWI Reparations

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    Germany Still Paying Off WWI Reparations

    More than 90 years after Germany signed the Treaty of Versailles to end the First World War, the country continues to pay off reparations, daily Bild reported on Wednesday.

    A spokesperson for the German Finance Agency, the country’s authority on debt management, told the paper that millions of euros are still being transferred to bond holders.

    “The still-open contract for interest and amortisation payments is around €56 million,” spokesperson Boris Knapp said.

    When the Treaty of Versailles was signed on June 28, 1919, Germany accepted blame for the war and agreed to pay 226 billion Reichsmarks, a sum that was later reduced in 1921 to 132 billion Reichsmarks. Up until 1952 Germany had paid some 1.5 billion Reichsmarks in war reparations to Allied countries. But in 1953 the balance was suspended pending a reunification of East and West Germany.

    On October 3, 1990, the old debts went into effect again with 20 years for payment. Germany plans to pay off its World War I debts by October 3, 2010.
    http://www.thelocal.de/national/20091202-23657.html

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    Germany Makes Final Payment on WW1 Reparations

    First World War officially ends

    "The First World War will officially end on Sunday, 92 years after the guns fell silent, when Germany pays off the last chunk of reparations imposed on it by the Allies.

    The final payment of £59.5 million, writes off the crippling debt that was the price for one world war and laid the foundations for another.

    Germany was forced to pay the reparations at the Treaty of Versailles in 1919 as compensation to the war-ravaged nations of Belgium and France and to pay the Allies some of the costs of waging what was then the bloodiest conflict in history, leaving nearly ten million soldiers dead."

    http://www.telegraph.co.uk/news/worl...ally-ends.html
    "Tolerance and apathy are the last virtues of a dying society."

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    I love that little paragraph in the report where it says ...

    "The bill would have been settled much earlier had Adolf Hitler not reneged on reparations during his reign".

    ... meaning that it would have only taken a mere 80 years! You see, it's all Hitler's fault again

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    And 1000 more years to pay off WWII, Israel, and the holocaust

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    Saddling Germany with a crippling debt was insane. The Treaty of Versailles was insanely vindictive.

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