USA HISTORY

Detailed explanation-1: -The Treaty of Versailles (signed in 1919) and the 1921 London Schedule of Payments required Germany to pay 132 billion gold marks (US$33 billion [all values are contemporary, unless otherwise stated]) in reparations to cover civilian damage caused during the war.

Detailed explanation-2: -The Treaty of Versailles didn’t just blame Germany for the war-it demanded financial restitution for the whole thing, to the tune of 132 billion gold marks, or more than $500 billion today.

Detailed explanation-3: -Germany concluded a variety of treaties with Western and Eastern countries as well as the Jewish Claims Conference and the World Jewish Congress to compensate the victims of the Holocaust. Until 2005 about 63 billion euros (equivalent to approximately 87.9 billion euros in 2022) have been paid to individuals.

Detailed explanation-4: -After World War II, according to the Potsdam conference held between July 17 and August 2, 1945, Germany was to pay the Allies US$23 billion mainly in machinery and manufacturing plants. Dismantling in the west stopped in 1950. Reparations to the Soviet Union stopped in 1953.

Detailed explanation-5: -Blame-Germany was forced to accept the blame for starting the war under article 231 of the treaty, known as the War Guilt Clause. Reparations-Germany was to be made to pay for the damage suffered by Britain and France during the war. In 1922 the amount to be paid was set at £6.6 billion.