How much money does Germany owe Greece?
Greek
Parliament’s interparliamentary committee on German reparations was
briefed on Thursday by officials from the Finance Ministry on methods
used to calculate the loan that Greece was forced to give Germany during
World War II. The loan at the time had left the nation stripped of
funds while the Nazis stockpiled food to supply their armies overseas
using Greek money.
Coordinator of the special working group looking into the method
Panagiotis Karakoussis explained the method being used to collect
information and to evaluate the extent of the German loan from Greece He
said they converted the total amount the Nazis received from the Bank
of Greece during the country’s three-and-a-half year occupation into
1941-value U.S. dollars because that was the only relatively stable
currency at the time.
The group said it will begin calculating the interest repayments on the original disbursement from January 1, 1945, with an interest rate based on the average return of the 10-year U.S. Treasury bill. To do this, the group has gathered 45,000 documents from the Foreign ministry, 761 files from the Gemeral Accounting Office and 5,000 documents from the State Legal Council. The final report with the exact figure that Germany has owed Greece for decades will be ready by December 31, 2014. It will include an invoice of all the types of German reparations owed to Greeks.
50 Reichsmark marking the Occupation of Greece in WWII
The group said it will begin calculating the interest repayments on the original disbursement from January 1, 1945, with an interest rate based on the average return of the 10-year U.S. Treasury bill. To do this, the group has gathered 45,000 documents from the Foreign ministry, 761 files from the Gemeral Accounting Office and 5,000 documents from the State Legal Council. The final report with the exact figure that Germany has owed Greece for decades will be ready by December 31, 2014. It will include an invoice of all the types of German reparations owed to Greeks.