"Others might argue, as Rathenau and Stresemann had, that Germany must try to pay reparations, if only to prove the impossibility of doing so, or must borrow to the hilt in New York so as to drive a rift between the Western creditors; Hitler essentially argued for default. It helped, of course, that the reparations system had itself collapsed by 1932; Germany had already defaulted, albeit with American consent, by the time Hitler came to power. It helped, too, that the Nazis were able to recruit the widely respected former Reichsbank President Hjalmar Schacht, who had resigned his post in 1930 after effectively endorsing Hitler's campaign against the revised reparations schedule known as the Young Plan."
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PrisonersEconomists from GermanyAnti-communistsPeople of Nazi GermanyGerman economics and finance ministers
Original Language: English
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Sources
Niall Ferguson, The War of the World: Twentieth-Century Conflict and the Descent of the West (2006), p. 238-239
https://en.wikiquote.org/wiki/Hjalmar_Schacht
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