Just watched the news on BBC and heard that Britain makes it’s final payment to the USA and Canada today fron debt incurred in WW II.
The figure in 1945 was aprox. 44 billion dollars.
The final payment made today is aprox. 100 billion dollars.
And a word about WW1 debts:
Nor is HM Treasury able to say why the UK never repaid its WWI debts - even though, at the time, many Americans took a dim view of repayments being suspended, for they had bought bonds which stood little chance of showing a return on their investment.
Thus despite fighting on the same side in WWII, an air of financial distrust remained after hostilities ended.
“In a 1945 state department survey on the US public’s attitudes to its wartime allies, Britain was one of the least trusted countries,” says Dr Clavin.
During the crisis years of the 1930s, only one nation continued to pay in full - Finland. Perhaps a conscious effort to foster a good reputation with an increasingly influential power, Finland’s actions generated thousands of positive stories in the American media at the time. Nor has it been forgotten; the Finns celebrated this achievement in an exhibition last year.
But for the UK, a reputation for reliability has taken longer to restore.
Heard this the other day and thought it was interesting!
http://www.ctv.ca/servlet/ArticleNews/story/CTVNews/20061229/war_debt_061229/20061229?hub=Canada
UK pays off war debt.
Well glad to see other ppl watch the news too. 