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Posted by on Dec 7, 2020 in Uncategorized | 0 comments

Dawes Agreement

It was also found that the French and Belgians would withdraw from the Ruhr and that measures such as the occupation of the Ruhr territory, in the case of the 1st, were a flagrant violation on the part of Germany, 2nd and only with the unanimous agreement of all creditors. The German government accepted the plan on 17 April 1924 and on 24 April 24 the British, Italian and Belgian governments also agreed. French Prime Minister Raymond Poincaré signed the agreement on 25th Lest he be isolated and put under pressure by the collapse of France. The 1924 Dawes Plan (designed by a U.S. banker named Charles G. Dawes) was an agreement between the Allies and Germany. The basic idea behind the plan was to facilitate Germany`s payment of repairs and to have two key elements. After the Treaty of Versaille, there were several agreements that were weak attempts to make peace with Germany. However, some of them have succeeded in improving relations between Germany and other major powers.

In an August 1924 agreement, the main points of the Dawes plan were: this agreement was between the United States and Germany. Starting in 1922, the amount of the repair was set at $2 billion; The Dawes plan significantly reduced it to $50 million. In addition, Germany received a $200 million loan. That is very similar to what the IMF is doing today. Although it may seem altruistic, the strings are always in order. In both cases, the United States can win valuable trading partners. The lack of altruism is manifested by the fact that, in both cases, people were unhappy. The Germans felt that the loan was not necessary, believing that they should not pay for repairs. Some even despised the Dawes plan for the further implementation of the Treaty of Versaille.

Similarly, in poor countries that receive IMF loans, people are upset by the structural adjustments imposed. The poorest countries need to open their economies to multinationals that exploit people, making people more difficult to earn a living and the economy growing. It was a pact led by French Prime Minister Briand and U.S. Secretary of State Kellogg. It was decided that war could not be used as an instrument of national policy. This agreement was the culmination of ridicule. Moreover, there was no mechanism to deal with the possibility of someone actually breaking this agreement. What would the international community do if a state went to war? Are they going to go to war? Would that not be a violation of the agreement? On November 9, 1923, Adolf Hitler attempted another puetch in Monaco, but he failed. Moreover, in January 1923, France and Belgium had militarily occupied the German Ruhr region, as a guarantee of the war reparations created by the Treaty of Versaille, which cut the German government off from its central element of economic recovery.

In the years following the First World War, debt repayment and reparation issues disrupted relations between the Allies and the now defeated Germany. The U.S.-sponsored Dawes and Young plans provided a possible solution to these challenges. In the autumn of 1928, another expert committee was set up to develop a definitive solution to the German problem of reparations. In 1929, the commission chaired by Owen D. Young, head of General Electric and a member of the dawes committee, proposed a plan that reduced the reparations requested by Germany to 121 billion gold marks, or nearly $29 billion, payable over 58 years.