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The Young Plan was a program for settlement of German reparations debts after World War I. It was presented by the committee headed ( 1929- 30) by Owen D. Young. After the Dawes Plan was put into operation ( 1924), it became apparent that Germany could not meet the huge annual payments, especially over an indefinite period of time. The Young Plan—which set the total reparations at $26,350,000,000 to be paid over a period of 58 1/2 years—was thus adopted by the Allied Powers in 1930 to supersede the Dawes Plan. Designed to substitute a definite settlement under which Germany would know the exact extent of German obligations and to reduce the payments appreciably, the Young Plan divided the annual payment, set at about $473 million, into two elements—an unconditional part (one third of the sum) and a postponable part (the remainder). The annuities were to be raised through a transportation tax and from the budget. No sooner had the plan gone into effect than Germany felt the full impact of economic depression, and a moratorium was called for the fiscal year 1931- 32.

The Young Plan enraged many Germans still bitter over their country's defeat in World War I and left unemployed by the Depression, and some nationalists, including Adolf Hitler, actively campaigned against it. When Adolf Hitler took over Germany, he defaulted on the unpaid reparations debt. After Germany's defeat in World War IIWorld War II was the most extensive and costly armed conflict in the history of the world, involving the great majority of the world's nations, being fought simultaneously in several major theatres, and costing tens of millions of lives. The war was fough, an international conference decided ( 19531953 is a common year starting on Thursday (click on link for the calendar). Events January events January 7 President Harry S. Truman announces the United States has developed a hydrogen bomb. January 13 Marshal Josip Broz Tito chosen President of Yugosl) that Germany would pay the remaining debt only after the country was reunified. Nonetheless, West GermanyWest Germany was the informal but almost universally used name for the Federal Republic of Germany from 1949 until 1990, during which years the Federal Republic did not yet include the eastern part of Germany. Since the German reunification of 1990, the F paid off the principal by 19801980 is a leap year starting on Tuesday. Events January-February January 1- April 1 National steel strike in United Kingdom January 1 Changes to the Swedish Act of Succession creates Victoria of Sweden, Crown Princess over her younger brother January 5 He; then in 19951995 was a common year starting on Sunday (see link for calendar). It has a Golden number of 1, and was the first year of the International Decade of the World's Indigenous People (1995- 2005): http://www. org/culture/indigenous . Events January events Ja, after reunificationGerman reunification Deutsche Wiedervereinigung refers to the reunification of Germany from its constituent parts of East Germany and West Germany under a single government on October 3, 1990. An agreement to reunite both parts of Germany was reached on F, the new German government announced it would resume payments of the interest.



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