GERMANY: Third Standstill

Germans say they are trying hard to pay their short-term private debts. But how much have they paid? In Berlin last week U. S., British, French. Italian, Swiss and Dutch bankers representing the Reich's chief short-term creditors announced themselves satisfied that Germany has done her utmost and done well. During 1932 she has repaid, they estimated, nearly 14% of the short-term credits frozen in Germany under the "standstill agreement" (TIME, Aug. 31. 1931) which followed the Hoover Moratorium.

The standstill, originally a six-month affair, was extended to 18 months last February....

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