The report of the Minister of Finance to the Counsel of Ministers on the situation of Roumania created by the reparation and interallied debts policy

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Monograph

Identifikator:: 102318091X

URN:: urn:nbn:de:zbw-retromon-55477

Document type:: Monograph

Title:: The report of the Minister of Finance to the Counsel of Ministers on the situation of Roumania created by the reparation and interallied debts policy

Place of publication:: Bucarest

Publisher:: Government Press

Year of publication:: 1925

Scope:: 1 Online-Ressource (115 Seiten)

Collection:: Economics Books

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35 plan. Germany’s debt for reparations is no longer a global and fixed sum, but it varies according to the times, and contains elements of uncertainty (Annex 58, 62). Roumania, invited officially to the London Conference, took part, by her delegate Mr. N. situlescu, who obeying the instructions given by the Roumanian Government, did his best for the Roumanian interests to be de fended within the terms of Dawe’s plan (Annex 55). For the clauses common to all the allies we would have been asked to comply with the general solutions, if the so called Spa quota had been fa vorable for us. For the claims special to Roumania, such for instance as the claim for the ” Ban ca Generala« notes, and the recuperation arising from the Treaty of Bu- carest, endeavours were made for our rights to be reserved for future debates. To this intent, on July 28 th 1924, the Roumanian delegate at that Confe rence, made a declaration (Annex 56) by which Roumania »approves the report of the experts, as an instrument of payment as regards Germany, for the sums already fixed, or to be fixed, proportionally to her capacity of payment, so that the Roumanian claims, both in her quality of an ally, as well as in her other special qualities be recovered". ”The present conference has not to occupy itself with the distribution between the allies, with the question of payment by priority of the privileged claims.... etc, therefore Roumania ventures to lay before the Conference, a memoir to prove her great interest in the reparation problem, and once again to determine her situation in this matter, in view of the day when these ques tions will form the object of negotiations between the allies. The memoir announced in this declaration was presented, and constitutes one of the official documents of this Conference (annex 55). By the application of the London agreement, the Commision of Repara tions declares on September 1 st 1924, the coming into effect of the new plan, and a new organ begins to work, namely »The General Agent of payments for reparations. By Dawe’s plan Germany’s debt for reparations consists in annuities fixed for the moment for a lapse of 5 years, and for amounts as in the annex 52 do cument extracted from the report of the General Agent of Payments, whereas for the future a new distribution is to be fixed. Consequently the London Conference and the approval of Dawe’s plan had the effect that the debt of 132 milliards of marks gold, fixed and payable in 30 years, beginning on May 1 st 1921, was transformed into a variable obliga tion, for a number of years, the present capitalization of which, constitutes a considerable reduction of the debt. The Conference of the Ministers of Finance of the allies, which was held in Paris between the 7"'—14"' of January 1925, had the object of completing the works of the London Conference, fixing norms of distribution amongst the allies, of the payments effected and to be effected by Germany in the course of the first period of 5 years of Dawe’s plan.

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