aug 1, 1929 - Young Plan

Description:

Stresemann agreed to the Young Plan, which was arranged by the Allies. A referendum of the German people was held, and 85% voted in favour of it.

The main points of the Plan were that:
- reparations were reduced from £6.6 billion to £2 billion
- Germany had another 59 years to pay the reparations

Positives of the Young Plan were:
- the government could lower taxes
- lower taxes meant more spending by the German people, boosting industry
- the French agreed to leave the Rhineland in 1930

Negatives of the Young Plan were:
- extreme politicians were furious that reparations were still being paid
- extreme politicians claimed that the penalty would now be paid by future generations

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