World War I Has Finally Ended

Forty-one years after the signing of Versailles, Germany has finished paying reparations for starting (and losing) the Great War. Germany will soon settle the last 60 million pounds of a 22 billion pound debt, which was intended to cover the Allies' war costs and to rebuild areas devastated by combat. The payments wouldn't have taken this long, if a certain bitter Fuhrer hadn't reneged on reparations during his reign to garner support for his rising Nazi party.

While after World War II, West Germany accepted and settled most of the outstanding debt, after the country's reunification, the treaty mandated further interest payments, which began again in 1996. As The Daily mail reports, the last check will be mailed this Sunday:

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

Most of the money goes to private individuals, pension funds and corporations holding debenture bonds as agreed under the Treaty of Versailles.

The German government did not reveal how the money will be disbursed but it is understood that it is transferred to a holding account before being sent to the relevant bond and debt holders.

Most of these are American and French.

Read the full story at The Daily Mail.

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Rebecca Greenfield is a former staff writer at The Wire.

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