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Yeah, interallied debt to the US was linked to German reparations which stopped in 1932 (I think?). The US wasn't fussed about it...so I'm not sure it was a def
by kchoudhu 8y ago
Yeah, interallied debt to the US was linked to German reparations which stopped in 1932 (I think?). The US wasn't fussed about it...so I'm not sure it was a default.
The other one I can think of was the downgrade of the coupon on WW1 war bonds from 5% to 3.5%. Again, seemingly everyone agreed with this, so there is some debate over whether it was an actual default.