Mellon–Berenger Agreement
1926 agreement between the United States and France / From Wikipedia, the free encyclopedia
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The Mellon-Berenger Agreement (or Accord Mellon-Bérenger) (29 April 1926) was an agreement on the amount and rate of repayment of France's debt to the United States arising from loans and payments in kind made during World War I (1914–1918), both before and after the armistice with Germany. The agreement greatly reduced the amount owing by France, with relatively easy payment terms. However, it was deeply unpopular in France, whose people felt that the United States should waive the debt in light of the huge losses of life and material damage that France had suffered, or at least link payments to reparations from Germany. Ratification by the French parliament was delayed until July 1929. The Great Depression began soon after. In the end, little of the debt was repaid.
Signed | 29 April 1926 (1926-04-29) |
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Location | Washington, D.C., Paris |
Effective | 18 December 1929 (1929-12-18) |
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