Background:

The economic crisis of 1929 disrupted the implementation of the "Young Plan". As short-term loans put to Germany by foreign countries, especially the United States, were quickly withdrawn, the German economy once again faced bankruptcy. On June 20, 1931, German President Hindenburg called President Hoover of the United States, stating Germany's financial difficulties and claiming that it was unable to repay its debts. At this time, the United States' own economic crisis is still expanding. The United States realizes that the decline of the German economy is related to the stability of European politics and economy and the security of American investments, so it must reconsider the issue of reparations that is actually closely related to war debts.

Impact:

The declaration did not alleviate the economic crisis. As its one-year deadline approaches, countries are beginning to grapple with the legacy of World War I debt. In July 1932, the relevant countries signed the Lausanne Agreement in Lausanne.

If you are satisfied, please adopt it, haha! !