HokieSeas's Journal: Britain Repays WW2 Debt

From the Sun Online:

BRITAIN will finally settle its Second World War loan debt to America and Canada tomorrow.

A £55million instalment completes the £4.8billion repaid since 1950. The loans of £2.8billion bankrolled the war effort and post-war reconstruction.

Economic Secretary to the Treasury, Ed Balls, said: "This week we honour in full our commitments to the US and Canada for the support they gave 60 years ago."

Anyone want to go halfsies on a thank you card?

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[account_deleted]

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[Ethelred Unraed]

IIRC the outstanding wartime debts from WWI -- including those owed to the US and to the UK -- were never settled after 1934. I also recall that one reason the UK defaulted was because their debtors didn't pay them the much larger sum of money the UK was owed. The international financial system pretty much unravelled during the Depression and everyone owed everyone, but no one could pay.

This article [bbc.co.uk] seems to back that up. There's a box there showing the UK still owed the US £866 million in the 1930

Who all gets to sign it?

[TechnoLust]

Everyone in the USA, or just people that chip in? :-)

very cool

[eglamkowski]

That makes them only the second country to have repaid their WWII loans to the US. Finland is the other :)

Good countries, those two. Nice people ^_^