Dawes Plan
1924 plan to resolve Germany's World War I reparations / From Wikipedia, the free encyclopedia
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The Dawes Plan (as proposed by the Dawes Committee, chaired by Charles G. Dawes) was a plan in 1924 that successfully resolved the issue of World War I reparations that Germany had to pay. It ended a crisis in European diplomacy following World War I and the Treaty of Versailles.
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The plan provided for an end to the Franco-Belgian occupation of the Ruhr, and a staggered payment plan for Germany's payment of war reparations. Because the Plan resolved a serious international crisis, Dawes shared the Nobel Peace Prize in 1925 for his work.
The Dawes Plan was put forward and was signed in Paris on August 16, 1924. This was done under the Foreign Secretary of Germany, Gustav Stresemann. Stresemann was Chancellor after the Hyperinflation Crisis of 1923 and was in charge of getting Germany back to its global reputation for being a fighting force. However, he resigned from his position as Chancellor in November 1923 while remaining Foreign Secretary of Germany.