Il sistema finanziario della prima guerra mondiale tra debiti di guerra e riparazioni

The war reparations and debts, generating huge transfers of wealth among countries, influenced the normal movement of capital to such an extent as to render unstable the international monetary system, with a boomerang effect also on the beneficiaries. Not only the victorious countries, but also the neutral economies, in fact, affected the effects of the problematic nature of the financial credit from Germany, both in terms of compensating stock of war debts, both in terms of economic/financial balance of States. Then, it is clear how the issue of war debts and reparations of World War played a significant role in the transformation of existing financial systems and in moving the center of gravity in the world economy.