Paris Peace Agreement 1919

On May 5, 1921, the Reparations Commission fixed the London payment settlement and a final amount of 132 billion gold marks, to be demanded of all the middle powers. It was the public assessment of what the middle powers could pay together and it was also a compromise between Belgian, British and French claims and assessments. In addition, the Commission recognised that the middle powers could pay little and that the burden would fall on Germany. Subsequently, the sum was divided into different categories, of which Germany had to pay only 50 billion gold marks ($12.5 billion); This was the Commission`s true assessment of what Germany could pay and allowed the Allied Powers to save public face by presenting a higher figure.

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