33
/
AIzaSyAYiBZKx7MnpbEhh9jyipgxe19OcubqV5w
May 1, 2025
3089503
271574
2

aug 31, 1929 - Young Plan

Description:

In late 1928, Stresemann called for a permanent solution to the reparations (which the Dawes plan didn't offer). This was addressed with a committee headed by Young and provided a plan as to how and to what amount reparations would be paid in which the Germans were now represented.
There resulting plan cut total reparations by around 20% to be paid in annual instalments until 1988.
The plan also made allowances for Germany's ability to pay in any given year by making only a third of the money being paid compulsory with the other two thirds able to be postponed (but would incur interest).
It also provided Germany with another American loan of around $300 million and ended financial supervision and occupation of the Rhineland by allied militaries.

The policy was greatly protested by the National and Nazi parties but in a plebiscite around 85% of Germans voted in favour of the Young plan.

Added to timeline:

Date:

aug 31, 1929
Now
~ 95 years ago