The Treaty of Versailles was a peace treaty signed on 28 June 1919. As the most important treaty of World War I, it ended the state of war between Germany and most of the Allied Powers. It was signed in the Palace of Versailles, exactly five years after the assassination of Archduke Franz Ferdinand, which led to the war. The other Central Powers on the German side signed separate treaties. Although the armistice of 11 November 1918 ended the actual fighting, and agreed certain principles and conditions including the payment of reparations, it took six months of Allied negotiations at the Paris Peace Conference to conclude the peace treaty. Germany was not allowed to participate in the negotiations before signing the treaty.
Following their defeat in World War I, the Central Powers agreed to pay war reparations to the Allied Powers. Each defeated power was required to make payments in either cash or kind. Because of the financial situation in Austria, Hungary, and Turkey after the war, few to no reparations were paid and the requirements for reparations were cancelled. Bulgaria, having paid only a fraction of what was required, saw its reparation figure reduced and then cancelled. Historians have recognized the German requirement to pay reparations as the "chief battleground of the post-war era" and "the focus of the power struggle between France and Germany over whether the Versailles Treaty was to be enforced or revised."
In contract law, an indemnity is a contractual obligation of one party to compensate the loss incurred by another party due to the relevant acts of the indemnitor or any other party. The duty to indemnify is usually, but not always, coextensive with the contractual duty to "hold harmless" or "save harmless". In contrast, a "guarantee" is an obligation of one party to another party to perform the promise of a relevant other party if that other party defaults.
The Treaty of San Francisco, also called the Treaty of Peace with Japan, re-established peaceful relations between Japan and the Allied Powers on behalf of the United Nations by ending the legal state of war, military occupation and providing for redress for hostile actions up to and including World War II. It was signed by 49 nations on 8 September 1951, in San Francisco, California, at the War Memorial Opera House. Italy and China were not invited, the latter due to disagreements on whether the Republic of China or the People's Republic of China represented the Chinese people. Korea was also not invited due to a similar disagreement on whether South Korea or North Korea represented the Korean people.
The Treaty on Basic Relations Between Japan and the Republic of Korea was signed on June 22, 1965. It established basic diplomatic relations between Japan and South Korea.
The Dawes Plan temporarily resolved the issue of the reparations that Germany owed to the Allies of World War I. Enacted in 1924, it ended the crisis in European diplomacy that occurred after French and Belgian troops occupied the Ruhr in response to Germany's failure to meet its reparations obligations.
The Young Plan was a 1929 attempt to settle issues surrounding the World War I reparations obligations that Germany owed under the terms of Treaty of Versailles. Developed to replace the 1924 Dawes Plan, the Young Plan was negotiated in Paris from February to June 1929 by a committee of international financial experts under the leadership of American businessman and economist Owen D. Young. Representatives of the affected governments then finalised and approved the plan at The Hague conference of 1929/30. Reparations were set at 36 billion Reichsmarks payable through 1988. Including interest, the total came to 112 billion Reichsmarks. The average annual payment was approximately two billion Reichsmarks. The plan came into effect on 17 May 1930, retroactive to 1 September 1929.
The Reparations Agreement between Israel and the Federal Republic of Germany was signed on September 10, 1952, and entered in force on March 27, 1953. According to the Agreement, West Germany was to pay Israel for the costs of "resettling so great a number of uprooted and destitute Jewish refugees" after the war, and to compensate individual Jews, via the Conference on Jewish Material Claims Against Germany, for losses in Jewish livelihood and property resulting from Nazi persecution.
Article 231, often known as the "War Guilt" clause, was the opening article of the reparations section of the Treaty of Versailles, which ended the First World War between the German Empire and the Allied and Associated Powers. The article did not use the word guilt but it served as a legal basis under which Germany was to pay reparations for damages caused during the war.
The occupation of the Ruhr was the period from 11 January 1923 to 25 August 1925 when French and Belgian troops occupied the Ruhr region of Weimar Republic Germany.
The United Nations Compensation Commission (UNCC) was created in 1991 as a subsidiary organ of the United Nations Security Council. Its mandate was to process claims and pay compensation for losses and damage suffered as a direct result of Iraq's 1990–1991 invasion and occupation of Kuwait which started the Gulf War. These losses included claims for loss of property, deaths, loss of natural resources, damage to public health and environmental damage. The work of the UNCC officially came to a close at the end of 2022.
The Lausanne Conference of 1932, held from 16 June to 9 July 1932 in Lausanne, Switzerland, was a meeting of representatives from the United Kingdom, France, Italy, Belgium, Japan and Germany that resulted in an agreement to lower Germany's World War I reparations obligations as imposed by the Treaty of Versailles and the 1929 Young Plan. The reduction of approximately 90 per cent was made as a result of the difficult economic circumstances during the Great Depression. The Lausanne Treaty never came into effect because it was dependent on an agreement with the United States on the repayment of the loans it had made to the Allied powers during World War I, and that agreement was never reached. The Lausanne Conference marked the de facto end of Germany's reparations payments until after World War II.
The London Agreement on German External Debts, also known as the London Debt Agreement, was a debt relief treaty between the Federal Republic of Germany and creditor nations. The Agreement was signed in London on 27 February 1953, and came into force on 16 September 1953.
Hyperinflation affected the German Papiermark, the currency of the Weimar Republic, between 1921 and 1923, primarily in 1923. The German currency had seen significant inflation during the First World War due to the way in which the German government funded its war effort through borrowing, with debts of 156 billion marks by 1918. This national debt was substantially increased by 50 billion marks of reparations payable in cash and in-kind under the May 1921 London Schedule of Payments agreed after the Versailles treaty.
Reparations were paid to Yugoslavia in the aftermath of World War II. The State Reparations Commission of the Yugoslav Government estimated the total war damages inflicted upon Yugoslavia in World War II at approximately US$47 billion.
The Haitian independence debt involves an 1825 agreement between Haiti and France that included France demanding an indemnity of 150 million francs in five annual payments of 30 million to be paid by Haiti in claims over property – including Haitian slaves – that was lost through the Haitian Revolution in return for diplomatic recognition. Haiti was forced to take a loan for the first 30 million, and in 1838 France agreed to reduce the remaining debt to 60 million to be paid over 30 years, with the final payment paid in 1883. However, The New York Times estimates that because of other loans taken to pay off this loan, the final payment to debtors was actually in 1947. They approximated that in total 112 million francs was paid in indemnity, which when adjusted for the inflation rate would be $560 million in 2022, but considering that if had been invested in the Haitian economy instead, it could be valued at $115 billion.
Reparations are broadly understood as compensation given for an abuse or injury. The colloquial meaning of reparations has changed substantively over the last century. In the early 1900s, reparations were interstate exchanges that were punitive mechanisms determined by treaty and paid by the surrendering side of a conflict, such as the World War I reparations paid by Germany and its allies. Reparations are now understood as not only war damages but also compensation and other measures provided to victims of severe human rights violations by the parties responsible. The right of the victim of an injury to receive reparations and the duty of the part responsible to provide them has been secured by the United Nations.
War reparations of Finland to the Soviet Union were originally worth US$300,000,000 at 1938 prices. Finland agreed to pay the reparations in the Moscow Armistice signed on 19 September 1944. The protocol to determine more precisely the war reparations to the Soviet Union was signed in December 1944, by the prime minister Juho Kusti Paasikivi and the chairman of the Allied Control Commission for controlling the Moscow Armistice in Helsinki, Andrei Zhdanov.
After World War II, both the Federal Republic and Democratic Republic of Germany were obliged to pay war reparations to the Allied governments, according to the Potsdam Conference. Other Axis nations were obliged to pay war reparations according to the Paris Peace Treaties, 1947. Austria was not included in any of these treaties.
The Hague conference on reparations of 1929-30 was an international conference on World War I reparations that reviewed and adopted the Young Plan, the final attempt during the Weimar Republic to settle the reparations issue. The conference was held in The Hague, Netherlands in two parts, from 6 to 31 August 1929 and from 3 to 31 January 1930.
