London Agreement on German External Debts

Under the London Debts Agreement of 1953, the repayable amount was reduced by 50% to about 15 billion marks and stretched out over 30 years, and compared to the fast-growing German economy were of minor impact.

An important term of the agreement was that repayments were only due while West Germany ran a trade surplus, and that repayments were limited to 3% of export earnings. This gave Germany’s creditors a powerful incentive to import German goods, assisting reconstruction.

The agreement significantly contributed to the growth of the post-war German economy and reemergence of Germany as a world economic power. It allowed Germany to enter international economic institutions such as the World Bank, International Monetary Fund and World Trade Organization.

via London Agreement on German External Debts – Wikipedia, the free encyclopedia.

This is the only way to resolve unsustainable debt if you want future economic growth, peace and prosperity.

2 comentarii

  1. Abordarea americana (miliardele cadou din planul Marshall si din debt relief) a fost in contrast masiv cu cea sovietica in est, unde rusii au tinut sa ii pedepseasca pe nemti pentru razboi prin demontarea si furtul fabricilor si altor mijloace de productie.

    Poti citi mai multe aici:

    Atitudinea inflexibila a Germaniei fata de Grecia in 2015 cu care din cele doua atitudini ale celor doi mari aliati fata de Germania de dupa razboi seamana mai bine? Stim bine din istorie care din cele doua atitudini a produs o revenire economica mai rapida si mai sustenabila…

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