Young Plan

Young Plan
The programme for the settlement of German reparations payments after World War I. The plan was embodied in the recommendations of a committee that met in Paris ( February 1929 ) under the chairmanship of a US financier, Owen D. Young , to revise the Dawes Plan ( 1924 ). The total sum due from Germany was reduced by 75% to 121 billion Reichsmark, to be paid in 59 annual instalments. Foreign controls on Germany's economy were lifted. The first instalment was paid in 1930 , but further payments lapsed until Hitler repudiated all reparations debts in 1933 .