Due to an ongoing health crisis in the family, blogging will be 'on and off' as time and circumstances permit for the foreseeable future. I also beg your indulgence if I am slow in responding to emails. New posts will appear below this notice.

Wednesday, September 29, 2010

Germany pays off its World War I debt

BERLIN — 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.
Read the rest here.

2 comments:

Visibilium said...

It's a ridiculous debt.

The Anti-Gnostic said...

Agreed. It should have stayed repudiated after WW2.

Surely the British and French owe for the mess they left in the Middle East?