Germany pays off last World War I debt under the Treaty of Versailles on Sunday

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For Germany, WWI finally ends on Sunday
Country to pay final $94 million reparations installment

Germany will finally pay off the last of its debts from World War One this Sunday, on the 20th anniversary of German reunification.

Germany's federal office for central services and unresolved property issues (BADV) said on Tuesday a bond issued to pay remaining debts stemming from the conflict would mature on Oct. 3, two decades after West and East Germany united.

The final 70 million euro ($94 million) installment will close a 92-year chapter that saw Germany plunge into totalitarian dictatorship and trigger a second world war that ended with its division during four decades of Cold War.

"On Sunday the last bill is due and the First World War finally, financially at least, terminates for Germany," the country's biggest-selling newspaper, Bild, said on Tuesday.

The Treaty of Versailles, a peace settlement signed by Germany and the Allies in 1919, made Germany solely responsible for World War One, requiring it to pay reparations for the damage done to the Allied countries and peoples between 1914 and 1918.

Amazing that it's been going on for so long, at least it will finally end soon for Germany. I wonder how much debt other countries still have from previous wars? Thought I read once that the British were still paying off debt from their 18th and 19th century wars.

 

I didn't know that they were still paying it. Geesh...

 

British Consols were first issued in the 18th century, and have continued to today. They are basically a perpetuity (an annuity that continues forever). I guess the British government could theoretically redeem them at some point, but its unlikely they will.

 

Poor Germany should have been cut a break since they behaved so well after signing that treaty.

 

worst treaty evah

 

Nobody should be paying anybody for that stupid war.

 

Where's my 40 acres and a mule?