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.