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Max Planck Encyclopedia of Public International Law [MPEPIL]

London Agreement on German External Debts (1953)

Marc Jacob

From: Oxford Public International Law (http://opil.ouplaw.com). (c) Oxford University Press, 2015. All Rights Reserved.date: 14 December 2019

Subject(s):
Debts — Arbitral tribunals — Mixed Claims Commissions — Arbitration

Published under the auspices of the Max Planck Foundation for International Peace and the Rule of Law under the direction of Rüdiger Wolfrum.

1 By the early 1950s a drained Germany had amassed enormous external debts following two disastrous World Wars and decades of ruinous financial activity in the economically turbulent inter-war period. The nascent Federal Republic was also deeply indebted, in particular to the United States, on account of economic aid received after World War II. The London Agreement on German External Debts of 1953 (‘the Agreement’) was an attempt to settle these vast international liabilities and bring about the normalization of German foreign relations and the restoration of its...
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