NEWS

Germany said to owe Greece 9 bln euros in WWI reparations

Germany owes Greece 9 billion euros in reparations from the First World War, according to a report produced by the State General Accounting Office.

The report states that Greece was due to receive 0.4 percent of the total reparations due to be paid after the First World War.

Berlin was due to pay in 37 installments but Greece only received 1.5 percent of the total by the time the Lausanne Conference was held in the summer of 1932, when Great Britain and France decided to suspend demands for reparations payments from Germany due to the onset of the Great Depression.

However, Greece was not a signatory to the agreement so the claims still stand and are now the equivalent of 9 billion euros, the report stated.