LogFAQs > #954886477

indica posted...

I know Germany wasn't able to pay off the debt for WW1 until 2010

I'm not certain about that. Germany's reparations debts were cancelled at the Lausanne Conference in June 1932, and the token final payment of 3 billion marks that Germany made in July 1932 was a meaningless gesture because the bonds were deposited at the Bank for International Settlements -- but the bonds were never issued, and the bank burned them in 1948.

Could you be thinking of the interwar debts (as distinct from reparations) that Germany owed to foreign creditors (80% of them in the USA, UK, The Netherlands and Switzerland) under the London Debt Agreement of 1953? The final payment was made on October 3, 2010. The London Debt Agreement didn't have anything to do with reparations, which were specifically excluded from the agreement by Article 5.

So in short, Germany stopped paying WW1 reparations in 1932, but continued paying interwar debts owed to foreign lenders until 2010.

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~.|o