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After World War II ended, the main four Allied powers – Great Britain, The United States, France, and the Soviet Union – jointly occupied Germany, with the Allied occupation officially ending in the 1950s. During this time, Germany was held accountable for the Allied occupation's expenses, amounting to over several billion dollars. [21]
When the 1921 London conference to determine how much Germany should pay was called, the Allies calculated on the basis of what Germany could pay, not on their own needs. [170] In this way, Marks says, the Germans largely escaped paying for the war and instead shifted the costs onto American investors. [ 171 ]
After World War II, according to the Potsdam conference held between July 17 and August 2, 1945, Germany was to pay the Allies US$23 billion mainly in machinery and manufacturing plants. Dismantling in the West stopped in 1950. Reparations to the Soviet Union stopped in 1953 (only paid by the GDR).
Feldman, Gerald D. Army, Industry and Labor in Germany, 1914–18 (1966) Gross, Stephen. "Confidence and Gold: German War Finance 1914-1918," Central European History (2009) 42#2 pp. 223–252 in JSTOR; Karau, Mark D. Germany's Defeat in the First World War: The Lost Battles and Reckless Gambles That Brought Down the Second Reich (ABC-CLIO, 2015).
This strategy failed as Germany lost the war, which left the new Weimar Republic saddled with massive war debts that it could not afford: the national debt stood at 156 billion marks in 1918. [3] The debt problem was exacerbated by printing money without any economic resources to back it. [1]
Colonomos Ariel and Andrea Armstrong "German Reparations to the Jews after World War II A Turning Point in the History of Reparations". In Pablo de Greiff ed. The Handbook of Reparations, Oxford, Oxford University Press, 2006; Geller, Jay Howard. 2005. Jews in Post-Holocaust Germany. Cambridge/New York: Cambridge University Press. Goldmann ...
As of the mid-1980s, over four million claims had been filed and paid. Approximately 40% of the claims were from Israel, where many Holocaust survivors live, 20% were from Germany, and 40% were from other countries. The process in Germany was often extremely difficult.
Approximately 6.9 to 7.5 million Germans died, representing roughly 8.5 percent of the German population and a fraction of total World War II casualties estimated at 70 to 85 million people. [ 1 ] [ 2 ] The country's cities were severely damaged from heavy bombing in the closing chapters of the war and agricultural production was only 35 ...