Term for Identification: Young Plan

Question

Term for Identification:  Young Plan​

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The Answer is The Young Plan was a program for settling German reparations debts after World War I written in 1929 and formally adopted in 1930. It was presented by the committee headed by American Owen D. Young, the chairman of General Electric, who was appointed to re-examine Germany's reparation payments as stipulated by the Treaty of Versailles following the end of World War I.

Under the Treaty of Versailles, Germany was held responsible for the war and was required to make extensive financial reparations to the Allied powers. The burden of these reparations was extremely heavy and contributed to the economic hardship and hyperinflation that Germany experienced in the 1920s.

The Young Plan aimed to reduce the total amount of reparations and to spread the payments over a longer period of time to make it more manageable for the German economy. It reduced the amount due to be paid to about 112 billion gold marks, equivalent to $8 billion at the time, to be paid over a period of 58 years. The plan also involved the withdrawal of Allied troops from the Rhineland.

The Young Plan was met with both support and opposition within Germany and among the Allies. While it provided some relief to the struggling German economy, it also faced criticism from those who felt it did not go far enough in reducing the reparations burden. In Germany, the plan was opposed by nationalist elements who resented any reparations as unjust and who would eventually rise to power under Adolf Hitler. The rise of the Nazi regime and the subsequent events leading to World War II rendered the Young Plan moot, as the issue of reparations was overtaken by the larger conflict that ensued.

Term for Identification: Young Plan​

Definitions:

Term for Identification: Young Plan