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During the period of reparations, Germany received between 27 and 38 billion marks in loans. [ 112 ] [ 113 ] [ 114 ] By 1931, German foreign debt stood at 21.514 billion marks; the main sources of aid were the United States, Britain, the Netherlands, and Switzerland. [ 115 ]
Problems with the Dawes Plan, notably its lack of a total reparations amount, led to the 1928 Young Plan, developed under the leadership of the American Owen D. Young. It established German reparation requirements at 112 billion marks ( US$26.3 billion ) and created a schedule of payments that would see Germany complete payments by 1988.
The reparations levied on Germany by the Treaty of Versailles were, in theory, supposed to restore the damage to the civilian economies, but little of the reparations money went for that. Most of Germany's reparations payments were funded by loans from American banks, and the recipients used them to pay off loans they had from the U.S. Treasury.
Reparations are broadly understood as compensation given for an abuse or injury. [1] The colloquial meaning of reparations has changed substantively over the last century. In the early 1900s, reparations were interstate exchanges (see war reparations) that were punitive mechanisms determined by treaty and paid by the surrendering side of a conflict, such as the World War I reparations paid by ...
A list of survivors from the Island of Ireland who served in World War 1 and who returned home either to Ireland or elsewhere; Department of the Taoiseach: Irish Soldiers in the First World War; Jeffery, Prof. Keith: Ireland and the First World War from "Irish History Live" at Queen's University, Belfast; The Irish Story archive on World War I
International relations (1919–1939) covers the main interactions shaping world history in this era, known as the interwar period, with emphasis on diplomacy and economic relations. The coverage here follows the diplomatic history of World War I and precedes the diplomatic history of World War II .
A German U-boat sinks the liner SS Arabic (1902). 44 died including 3 Americans August 21 Middle Eastern, Gallipoli: Scimitar Hill, a phase of the August Offensive. Politics: Italy declares war on the Ottoman Empire. [24] August 21–29 Middle Eastern, Gallipoli: Battle of Hill 60, part of the August Offensive. August 26 – September 19 Eastern
The first tentative efforts to comprehend the meaning and consequences of modern warfare began during the initial phases of World War I; this process continued throughout and after the end of hostilities, and is still underway more than a century later.