Current Status
After Germany’s defeat in World War II, payment of the reparations was not resumed. There was, however, outstanding German debt that the Weimar Republic had used to pay the reparations. An international conference decided (Agreement on German External Debts, 1953) that Germany would pay some parts of the remaining debt only after the country was reunified, at that time an event thought very unlikely to happen. West Germany paid off the remainder by 1980. According to the agreement, the debt would be serviced for 20 years, leading to the last payments being due on 3 October 2010, the 20th anniversary of German reunification. About 10% of this debt, about 20 million euro, has not been claimed yet.
Read more about this topic: World War I Reparations
Famous quotes containing the words current and/or status:
“The current of our thoughts made as sudden bends as the river, which was continually opening new prospects to the east or south, but we are aware that rivers flow most rapidly and shallowest at these points.”
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