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Wednesday, September 29, 2010

Germany Makes Final Reparations Payment for World War I

In 1919, after the close of World War I, Germany was assessed 226 billion marks in reparations payments against its foes. On Sunday, that nation will pay its final installment of this bill:
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.[...]
“On Sunday the last bill is due and the First World War finally, financially at least, terminates for Germany,” said Bild, the country’s biggest selling newspaper.
Most of the money goes to private individuals, pension funds and corporations holding debenture bonds as agreed under the Treaty of Versailles, where Germany was made to sign the ‘war guilt’ clause, accepting blame for the war.

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