Germany must pay WWII reparations to Greece, Poland: Former Greek president (2024)

FAQs

Did Germany pay reparations for ww2 to Greece? ›

In 1960, Germany concluded a treaty with the Greek government to compensate Greek victims of Nazi German terror which amounted to 115 Million German mark. These payments were explicitly marked as payments to the victims and were not supposed to be a general reparation treaty.

Germany lost all territories gained by the Nazi Party, they were forced to pay the Allies and the Israeli Nation $23 billion though the estimated actual cost was over $300 billion, as well as the loss of many major scientists and literature to Britain and the US.

The Treaty of Versailles was signed by Germany and the Allied Nations on June 28, 1919, formally ending World War One. The terms of the treaty required that Germany pay financial reparations, disarm, lose territory, and give up all of its overseas colonies.

As a result of the severe impact of the Great Depression on the German economy, reparations were suspended for a year in 1931, and after the failure to implement the agreement reached in the 1932 Lausanne Conference, no additional reparations payments were made.

Since 2015, various Greek politicians have claimed that Germany owes Greece €280 billion ($308 billion) in World War II reparations. Germany has repeatedly argued that the reparation issue was resolved under previous international agreements.

The Germans quickly captured the southern Greek cities and the struggle ended with the fall of Athens on 27 April 1941. The Allies lost around a quarter of their strength, including 11,000 men captured. Nevertheless, about 45,000 Allied soldiers were successfully evacuated to Crete.

in 1952 Germany signed the Luxembourg agreement regarding war reparations to Jewish victims. The payments were to cover all their losses anywhere in occupied Europe. Since then Germany has not stopped paying.

The case of debts arising from World War II is somewhat less complicated. At this time only four countries, discussed below, owe the U.S. government debts of any size arising from World War II programs to aid our allies. Other countries have paid their debts in full.

Over the next four years, U.S. banks continued to lend Germany enough money to enable it to meet its reparation payments to countries such as France and the United Kingdom. These countries, in turn, used their reparation payments from Germany to service their war debts to the United States.

The war had destroyed most country's economies and a large area of land. These, among many other things, needed to be restored. Considering that Germany had been defeated and they were largely at fault for the start of the war it was fair to make them pay reparations.

When did Germany stop paying reparations? ›

It made its last debt payment on October 3, 2010—the 20th anniversary of German reunification.

Germany lacked the necessary raw materials to make cordite (the vital propellant for bullets and shells) and explosives. Austria-Hungary was hampered by a lack of rail transport and rail infrastructure. Britain had a manpower shortage and a paucity of acetone, the key component for making cordite.

After World War II, according to the Potsdam conference held between July 17 and August 2, 1945, Germany was to pay the Allies US$23 billion mainly in machinery and manufacturing plants. Dismantling in the West stopped in 1950. Reparations to the Soviet Union stopped in 1953 (only paid by the GDR).

Although a defeated West Germany was forbidden from having a standing army immediately after the end of World War II, the Allies quickly changed that stance as the Cold War began and by 1955 Germany's Bundeswehr came into existence as a NATO member with the chief mission to hold off the threat of a Soviet invasion.

Reparations amounting to US$550 million (198 billion yen) were made to the Philippines, and US$39 million (14.04 billion yen) to Viet Nam. Payment to the International Committee of the Red Cross to compensate prisoners of war (POW) of 4.5 million pounds sterling (approximately 4.54109 billion yen) was made.

In 1960 Germany agreed with Greece to pay 115 million deutschmarks to Greek individuals who were victims of the German occupation. In total, Germany has paid around 72 billion euros in war reparations, according to Reuters.

Greece owes money to a number of countries and organisations following two bailouts - one in 2010 and another in 2012. The bailout funds totalled €220bn, most of which hasn't been be paid back. Greece owes around €56bn to Germany, €42bn to France, €37bn to Italy, and €25bn to Spain.

However, few Greeks cooperated with the Nazis and most chose either the path of passive acceptance or active resistance. During this time Greek Resistance, one of the most effective resistance movements in Occupied Europe, was formed.