Seventy years ago this Monday, the London Debt Agreement saw half of Germany's (then West Germany's) borrowings, accumulated after two world wars, written off.The debt cancellation, worth more than a fifth of national GDP, was driven by the United States, the UK and France.Eventually, South American, Asian and African nations signed up including, in a bitter twist of history, colonial precursors of today's bankrupts.
#united-states #development #legislation #institutions #agriculture #internationally #latin-america #interest-rates #federal-reserve #climate-emergency
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