Jeff Lacy

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It was not simply their bad manners. They calculated, very correctly, that the longer they could string out the bargaining over reparations, the less they would end up paying. Their whole strategy was therefore to negotiate in bad faith. In the first two years after signing the treaty, Germany desperately scraped together what it could, and paid $2 billion out of the $5 billion of interim payments due.
Lords of Finance: The Bankers Who Broke the World
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