'Germany makes final payment for WWI reparations'

Final $94 million payment coincides with 20th anniversary of German reunification, according to 'Der Spiegel' report.

By JPOST.COM STAFF
September 29, 2010 12:44
1 minute read.
Angela Merkel

Merkel 58 AP. (photo credit: Associated Press)

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analysis from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later

While celebrating the 20th anniversary of German unification on Sunday, the country will make its final payment for reparations as outlined in the Treaty of Versailles that concluded World War I, Der Spiegel reported.

The payment will be the final installment of interest on foreign bonds Germany issued in the inter-war period to raise necessary funds to pay reparations to the Allies following its defeat 92 years ago.

RELATED:
Credit where it was due
Iran to demand World War II reparations

Payments were suspended in the early 1930's due to a global financial crisis and Adolf Hitler's Nazi government never restarted them. Only in 1953 did West Germany agree to begin repaying the principal debt on the bonds.


It was agreed at an international conference that the interest payments would not begin until Germany was reunified. When the Berlin wall fell in 1990, the country began its interest payments, the last of which will be made on Sunday, October 3.

The huge debt forced upon Germany after its World War I defeat has often been  pointed to as a contributing factor to the rise of Adolf Hitler, the Nazi party, and the eventual breakout of World War II.

German historian Professor Gerd Krumeich spoke with Der Spiegel about the German people's perception of the post-war debt as an injustice and its role in Hitler's seizure of power. "The central factor behind Hitler's seizure of power was his promise 'I'll win this war in the end, I will undo this injustice and tear up this treaty and restore Germany to its old greatness.'"

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

british airways
April 21, 2019
The Travel Advisor: Airlines that disappear in the night

By MARK FELDMAN