Germany still paying World War I reparations
By DPA, IANSWednesday, December 2, 2009
BERLIN - Germany is still paying World War I reparations, more than 90 years after that conflict ended with a peace treaty at Versailles in 1919.
The country is expected to pay off the remaining 56 million euros ($84 million) in interest and repayments by Oct 3, 2010, Germany’s Bild newspaper reported Wednesday, citing a spokesman of the German finance agency that manages the government’s debts and borrowing.
The money is being paid out to creditors holding bonds. Germany had paid off 1.5 billion marks in war debts until 1952 ($357 million according to 1952 exchange rates), before repayment was frozen - due to Germany’s loss of territory in World War II - until the reunification between West and East Germany in 1990.
The demands were unfrozen Oct 2, 1990, with repayments to be concluded within 20 years.
