aug 16, 1924 - Dawes Plan

Description:

The Dawes plan was an agreement between the allies and accepted by Germany, to end the Franco-Belgian occupation of the Ruhr and in order to allow reparation payments to continue while rebuilding the German economy.

Its main points were:
That the Ruhr would be evacuated by foreign troops
Reparations would continue at a more affordable level and increase over time
The Reichsbank would be reorganised and become separate to the government
Germany would be loaned around $200 million to rebuild its industry (primarily in wall street bonds).

The plan worked well and foreign troops left the Ruhr and by 1926 the German steel industry was dominant in Europe once more.
However many Germans felt that Stresemann's foreign policy of fulfilment meant that Germany were further giving in to the pressures of France and Belgium as it had with the treaty if Versailles.

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