Reparations and the legacy of war -- Synopsis: The reparations saga in a nutshell -- Legacy of the Great War -- What really happened at Paris -- The Versailles settlement and the "German problem" -- Summits on sums -- La politique des casinos -- The London schedule of payments -- Significance of the figures -- Feasibility of the London schedule -- Fulfilment crises and Allied disunity -- A fraudulent bankruptcy? -- Poincaré and "the lure of the Ruhr" -- The Ruhr occupation -- From Dawes to Young -- The Dawes plan -- Germany under Dawes : reparations on credit -- The Young plan -- The end of reparations (and after) -- Weimar's faltering economy and the slump -- Germany's banking crisis and the end of reparations -- An unresolved issue : Allied war-debts -- The Nazi debt default and postwar redemption -- Appendix: Keynes, the transfer problem, and German reparations -- A1. The transfer problem : the Keynes-Ohlin debate -- A2. Keynes's anti-reparations campaign