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Legacy of Versailles Germany Closes Book on World War I With Final Reparations Payment

Germany will make its last reparations payment for World War I on Oct. 3, settling its outstanding debt from the 1919 Versailles Treaty and quietly closing the final chapter of the conflict that shaped the 20th century.

Oct. 3, the 20th anniversary of German unification, will also mark the completion of the final chapter of World War I with the end of reparations payments 92 years after the country's defeat.

The German government will pay the last installment of interest on foreign bonds it issued in 1924 and 1930 to raise cash to fulfill the enormous reparations demands the victorious Allies made after World War I.

The reparations bankrupted Germany in the 1920s and the fledgling Nazi party seized on the resulting public resentment against the terms of the Versailles Treaty.

The sum was initially set at 269 billion gold marks, around 96,000 tons of gold, before being reduced


Added: Sep-29-2010 Occurred On: Sep-29-2010
By: gmccuiston
Tags: Germany, WW1, reparations
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