WORLD HISTORY

Detailed explanation-1: -reparations, a levy on a defeated country forcing it to pay some of the war costs of the winning countries. Reparations were levied on the Central Powers after World War I to compensate the Allies for some of their war costs.

Detailed explanation-2: -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-3: -War reparations are payments by one state to another (or, sometimes, in modern practice, to individuals) at the end of a conflict, intended to compensate for the damage and injury inflicted during the war.

Detailed explanation-4: -Intense negotiation resulted in the Treaty of Versailles’ “war guilt clause, ” which identified Germany as the sole responsible party for the war and forced it to pay reparations. Germany had suspended the gold standard and financed the war by borrowing.

Detailed explanation-5: -After World War II both West Germany and East Germany were obliged to pay war reparations to the Allied governments, according to the Potsdam Conference. Other Axis nations were obliged to pay war reparations according to the Paris Peace Treaties, 1947. Austria was not included in any of these treaties.