World War I ended over the weekend (4th Oct 2010). Germany made its final reparations-related payment for the Great War on Oct. 3, nearly 92 years after the country’s defeat by the Allies. That’s not to say that Germany has been paying its dues consistently over the decades; the country defaulted on its loans many times and the current payouts have only been happening since the 1990s. What took Germany so long to pay for the war? Didn’t World War I end long ago? Does this mean we’re all survivors of the Great War?
Not quite. Germany’s last $94 million payment issued on Sunday isn’t a direct reparations settlement but rather the final sum owed on bonds that were issued between 1924 and 1930 and sold to foreign (mostly American) investors but then never paid. The story of German reparations involves several payment plans, years of inflation, broken promises, canceled debts and a man named Adolf Hitler who flat out refused to give anyone anything.
From: Time Magazine
