“By 1953, Germany also had obligations based on reconstruction loans taken immediately after the end of the Second World War,” according to “The Guardian.” Greece and Spain were among Germany’s creditors, as were Pakistan and Egypt, as well as the United States, the United Kingdom, and France.”
According to the British publication, Greece and Spain assisted postwar Germany in recovering and cancelling half of the country’s war debts in order to rebuild its economy 60 years ago.
In London, an agreement to forgive German debts was signed.
