Repressed, Remitted, Rejected


Book Description

Since unification, the Federal Republic of Germany has made vaunted efforts to make amends for the crimes of the Third Reich. Yet it remains the case that the demands for restitution by many countries that were occupied during the Second World War are unresolved, and recent demands from Greece and Poland have only reignited old debates. This book reconstructs the German occupation of Poland and Greece and gives a thorough accounting of these debates. Working from the perspective of international law, it deepens the scholarly discourse around the issue, clarifying the ‘never-ending story’ of German reparations policy and making a principled call for further action. A compilation of primary sources comprising 125 annotated key texts (512 pages) on the complexity of reparations discussions covering the period between 1941 and the end of 2017 is available for free on the Berghahn Books website, doi: 10.3167/9781800732575.dd.




Germany and Her Debts


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Germany and Israel


Book Description

In 1952, the Federal Republic of West Germany concluded a treaty with Israel whereby the Germans had to pay three billion Deutschmarks in compensation for the Holocaust. However, the Israelis felt that Germany owed Israel a moral as well as a financial debt, and thus expected further aid and protection. Although Germany made several concessions in favour of the Jewish State, particularly in the domain of armament, as Germany's political status increased, its national interest gradually took priority over that of Israel. This book examines the grounds which motivated Germany to grant aid to Israel and the change in their relations as the German economy flourished and gained influence in world affairs.




Debt and Entanglements Between the Wars


Book Description

World War I created a set of forces that affected the political arrangements and economies of all the countries involved. This period in global economic history between World War I and II offers rich material for studying international monetary and sovereign debt policies. Debt and Entanglements between the Wars focuses on the experiences of the United States, United Kingdom, four countries in the British Commonwealth (Australia, New Zealand, Canada, Newfoundland), France, Italy, Germany, and Japan, offering unique insights into how political and economic interests influenced alliances, defaults, and the unwinding of debts. The narratives presented show how the absence of effective international collaboration and resolution mechanisms inflicted damage on the global economy, with disastrous consequences.




The Inter-ally Debts


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The Economic Consequences of the Peace


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John Maynard Keynes, then a rising young economist, participated in the Paris Peace Conference in 1919 as chief representative of the British Treasury and advisor to Prime Minister David Lloyd George. He resigned after desperately trying and failing to reduce the huge demands for reparations being made on Germany. The Economic Consequences of the Peace is Keynes' brilliant and prophetic analysis of the effects that the peace treaty would have both on Germany and, even more fatefully, the world.




German Bond Yields and Debt Supply: Is There a “Bund Premium”?


Book Description

Are Bunds special? This paper estimates the “Bund premium” as the difference in convenience yields between other sovereign safe assets and German government bonds adjusted for sovereign credit risk, liquidity and swap market frictions. A higher premium suggests less substitutability of sovereign bonds. We document a rise in the “Bund premium” in the post-crisis period. We show that there is a negative relationship of the premium with the relative supply of German sovereign bonds, which is more pronounced for higher maturities and when risk aversion proxied by bond market volatility is high. Going forward, we expect German government debt supply to remain scarce, with important implications for the ECB’s monetary policy strategy.




Doing Business 2020


Book Description

Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.







Bankruptcy and Debt Collection in Liberal Capitalism


Book Description

Drawing on perspectives from anthropology and social theory, this book explores the quotidian routines of debt collection in nineteenth-century capitalism. It focuses on Switzerland, an exemplary case of liberal rule. Debt collection and bankruptcy relied on received practices until they were standardized in a Swiss federal law in 1889. The vast array of these practices was summarized by the idiomatic Swiss legal term “Rechtstrieb” (literally, “law drive”). Analyzing these forms of summary justice opens a window to the makeshift economies and the contested political imaginaries of nineteenth-century everyday life. Ultimately, the book advances an empirically grounded and theoretically informed history of quotidian legal practices in the everyday economy; it is an argument for studying capitalism from the bottom up.