Since unification, the Federal Republic of Germany has made vaunted efforts to make amends for the crimes of the Third Reich. Yet it remains the case that the demands for restitution by many countries that were occupied during the Second World War are unresolved, and recent demands from Greece and Poland have only reignited old debates. This book reconstructs the German occupation of Poland and Greece and gives a thorough accounting of these debates. Working from the perspective of international law, it deepens the scholarly discourse around the issue, clarifying the ‘never-ending story’ of German reparations policy and making a principled call for further action. A compilation of primary sources comprising 125 annotated key texts (512 pages) on the complexity of reparations discussions covering the period between 1941 and the end of 2017 is available for free on the Berghahn Books website, doi: 10.3167/9781800732575.dd.

In 1952, the Federal Republic of West Germany concluded a treaty with Israel whereby the Germans had to pay three billion Deutschmarks in compensation for the Holocaust. However, the Israelis felt that Germany owed Israel a moral as well as a financial debt, and thus expected further aid and protection. Although Germany made several concessions in favour of the Jewish State, particularly in the domain of armament, as Germany's political status increased, its national interest gradually took priority over that of Israel. This book examines the grounds which motivated Germany to grant aid to Israel and the change in their relations as the German economy flourished and gained influence in world affairs.

World War I created a set of forces that affected the political arrangements and economies of all the countries involved. This period in global economic history between World War I and II offers rich material for studying international monetary and sovereign debt policies. Debt and Entanglements between the Wars focuses on the experiences of the United States, United Kingdom, four countries in the British Commonwealth (Australia, New Zealand, Canada, Newfoundland), France, Italy, Germany, and Japan, offering unique insights into how political and economic interests influenced alliances, defaults, and the unwinding of debts. The narratives presented show how the absence of effective international collaboration and resolution mechanisms inflicted damage on the global economy, with disastrous consequences.

It seems like pretty much everybody – homeowners, students, those who are ill and without health insurance, and, of course, credit card holders – is up to their neck in debt that can never be repaid. 77% of US households are seriously indebted and one in seven Americans has been pursued by debt collectors. The major banks are bigger and more profitable than before the 2008 crash, and legislators are all but powerless to bring them to heel. In this forceful, eye-opening survey, Andrew Ross contends that we are in the cruel grip of a creditocracy – where the finance industry commandeers our elected governments and where the citizenry have to take out loans to meet their basic needs. The implications of mass indebtedness for any democracy are profound, and history shows that whenever a creditor class becomes as powerful as Wall Street, the result has been debt bondage for the bulk of the population. Following in the ancient tradition of the jubilee, activists have had some success in repudiating the debts of developing countries. The time is ripe, Ross argues, for a debtors’ movement to use the same kinds of moral and legal arguments to bring relief to household debtors in the North. After examining the varieties of lending that have contributed to the crisis, Ross suggests ways of lifting the burden of illegitimate debts from our backs. Just as important, Creditocracy outlines the kind of alternative economy we need to replace a predatory debt-money system that only benefits the 1%.

John Maynard Keynes, then a rising young economist, participated in the Paris Peace Conference in 1919 as chief representative of the British Treasury and advisor to Prime Minister David Lloyd George. He resigned after desperately trying and failing to reduce the huge demands for reparations being made on Germany. The Economic Consequences of the Peace is Keynes' brilliant and prophetic analysis of the effects that the peace treaty would have both on Germany and, even more fatefully, the world.

The soldiers who occupied Germany after the Second World War were not only liberators: they also brought with them a new threat, as women throughout the country became victims of sexual violence. In this disturbing and carefully researched book, the historian Miriam Gebhardt reveals for the first time the scale of this human tragedy, which continued long after the hostilities had ended. Discussion in recent years of the rape of German women committed at the end of the war has focused almost exclusively on the crimes committed by Soviet soldiers, but Gebhardt shows that this picture is misleading. Crimes were committed as much by the Western Allies – American, French and British – as by the members of the Red Army. Nor was the suffering limited to the immediate aftermath of the war. Gebhardt powerfully recounts how raped women continued to be the victims of doctors, who arbitrarily granted or refused abortions, welfare workers, who put pregnant women in homes, and wider society, which even today prefers to ignore these crimes. Crimes Unspoken is the first historical account to expose the true extent of sexual violence in Germany at the end of the war, offering valuable new insight into a key period of 20th century history.

Are Bunds special? This paper estimates the “Bund premium” as the difference in convenience yields between other sovereign safe assets and German government bonds adjusted for sovereign credit risk, liquidity and swap market frictions. A higher premium suggests less substitutability of sovereign bonds. We document a rise in the “Bund premium” in the post-crisis period. We show that there is a negative relationship of the premium with the relative supply of German sovereign bonds, which is more pronounced for higher maturities and when risk aversion proxied by bond market volatility is high. Going forward, we expect German government debt supply to remain scarce, with important implications for the ECB’s monetary policy strategy.

Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.