AGREEMENT FOR THE SETTLEMENT OF THE WAR
DEBT OF GREECE WITH GREAT BRITAIN.
Whereas the Government of the Greek Republic are indebted,
as at the 31st March, 1927, to His Majesty's Government in
Great Britain. after deduction of all claims in respect of damages
caused by the British troops in Greece, for the sum of
£21,441,450, represented by Greek sterling Treasury Bills held
by His Majesty's Treasury:
And whereas the two Governments desire to arrive at a friendly
agreement for the funding of this debt on terms compatible with
the economic and financial capacity of Greece;
Now, therefore, the Right Honourable Winston Leonard
Spencer Churchill, Chancellor of the Exchequer of Great Britain
and M. Demetrius Caclamanos, Envoy Extraordinary and
Minister Plenipotentiary of Greece, duly authorised thereto by
their respective Governments, subject to such ratification as may
be required, have agreed as follows :—
1. In view of the terms of Article 2 of the Agreement of
the 10th February, 1918, relating to military supplies, and of
the further provisions of Article 4 of the Agreement of the
31st August, 1925, the British Government agree to remit
all claims on Greece in respect of the military material
supplied under the Agreement of the 10th February, 1918.
2. In full and final settlement of the balance of the War
Debt, the Greek Government agres to pay, and His
Majesty's Government to accepts, the tollowing scale of
payments representing a present value of approximately
£6 950.000. viz. :~
For the year 1926
For the year 1927 .
For the year 1998 ...
For the year 1929 ...
For the year 1930 ... i. ve
For the years 1931 to 1935 inclusive
For the years 1936 to 1987 inclusive
£
50,000
200,000
200,000
250,000
300,000
350,000 a year.
400,000 a vear
The payment for the year 1926 shall be regarded as having
been discharged and satisfied by the payments made by
Greece since the 1st January, 1926; the payments for sub
sequent years shall be made in sterling at the Bank of
England, London, in equal half-yearly instalments on the
1st June and the 1st December of each year, so that the first
payment shall be made on the 1st June, 1927, and the final
payment on the Ist December. 1987.