Dawes Plan
1924 plan to resolve Germany's World War I reparations
Dawes Plan
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 Plan set up a staggered schedule for Germany's payment of war reparations, provided for a large loan to stabilise the German currency and ended the occupation of the Ruhr. It resulted in a brief period of economic recovery in the second half of the 1920s, although it came at the price of a heavy reliance on foreign capital. The Dawes Plan was superseded by the Young Plan in 1929. Because the Plan resolved a serious international crisis, the American Charles G. Dawes, who headed the group that developed it, received the Nobel Peace Prize in 1925.
Read on Wikipedia · Image Harris & Ewing, Public domain
Open boosters, collect cards and trade them. Free to play.
Play for free