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Dawes, who was the U.S. vice president at the time, received the Nobel Peace Prize of 1925 for "his crucial role in bringing about the Dawes Plan", specifically for the way it reduced the state of tension between France and Germany resulting from Germany's missed reparations payments and France's occupation of the Ruhr.
The Labour Party opposed the occupation of the Ruhr throughout 1923, which it rejected as French imperialism. The British Labour Party believed it had won when Poincaré accepted the Dawes Plan in 1924. [40] Despite his disagreements with the United Kingdom, Poincaré desired to preserve the Anglo-French entente and moderated his aims to a degree.
The adoption of the plan was followed by the Locarno Treaties. The subsequent "spirit of Locarno" saw an apparent reconciliation between the European Powers. The implementation of the Dawes Plan also saw a positive economic impact in Europe, largely funded by American loans. [74] Under the Dawes Plan, Germany always met her obligations. [75]
On Secretary of State Hughes's initiative, Coolidge appointed Charles Dawes to lead an international commission to reach an agreement on Germany's reparations. The resulting Dawes Plan provided for restructuring of the German debt, and the United States loaned money to Germany to help it repay its debt other countries. The Dawes Plan led to a ...
The 1924 Dawes Plan set up a framework that stabilized the German currency and made it possible for Germany to access capital markets in the United States for loans that it could then use to make reparations payments under a more favourable schedule than previously. Even though it led to a notable upswing in the German economy, France, the ...
The Commission relied on a General Secretariat and on General Services, both headquartered in Paris. It was restructured and downsized in late 1924 as a consequence of the Dawes Plan, [3]: 13 and eventually disbanded in 1930 following the adoption of the Young Plan and the establishment of the Bank for International Settlements (BIS). The BIS ...
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1925 – August/September: Adoption of the Dawes Plan by the German Government. The Allies end the occupation of the Ruhr. 1923 – Representatives from the towns of Köln, Düsseldorf und Duisburg found the "Studiengesellschaft für die rheinisch-westfälische Schnellbahn". A Schnellbahn (suburban railway) direct from Köln to Dortmund is planned.