Twenty years since reunification, on Sunday, October 3, the First World War is officially over- financially.
Germany will pay the last of its reparations, in the form of outstanding interest payments accrued between the end of the Second World War and the 1953 London Treaty. It all adds up to about 70 million Euros, or almost one hundred million dollars.
The London Treaty suspended those payments until Germany reunified. At the time no one expected that would happen- and it was akin to the debt being forgiven.
The heavy reparations ($400 billion in todayâ€™s money) imposed by the Treaty of Versailles in 1919 were intended to keep Germany weak. The burden was too great to bear, resulting modifications in reductions. With the onset of the Depression and the rise of Hitler, payments were suspended.
Perhaps this should serve as a reminder of the long term consequences of our actions as our politicians oversee wars and giant financial transactions.