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A revision of the treaty : being a sequel to The economic consequences of the peace / by John Maynard Keynes
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APPENDIX OF DOCUMENTS

I. The Spa Agreement, July 1920

{A) Summary 1 of the Agreement upon Reparations between theAllies, signed by the British Empire, France, Italy, Japan ,Belgium, and Portugal .

Article 1 provides that in pursuance of the Treaty of Versailles the sums received from Germany for reparations shall be dividedin the following proportions :

France ......52 per cent.

British Empire . . . . 22

Japan and Portugal . . . £ of 1 per cent each.

The remaining 6£ per cent is reserved for the Serbo-Croat -Slovene State and for Greece, Rumania , and other Powers notsignatories of the Agreement.

Article 2 provides that the aggregate amount received forreparation from Austria-Hungary and Bulgaria , together withamounts that may be received in respect of the liberation ofterritories belonging to the former Austro-Hungarian Monarchy ,shall be divided :

(a) As to half in the proportions mentioned in Article 1.

(b) As to the other half, Italy shall receive 40 per cent, while

60 per cent is reserved for Greece, Rumania , and theSerbo-Croat-Slovene State and other Powers entitledto reparations but not signatories of the Agreement.

1 The following is the official summary issued at the time. The completetext of the Agreement has not been published.

Italy Belgium

10

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