Tuesday, October 05, 2010

Unexpected liabilities

I wonder if, despite George Osborne’s very best endeavours, our descendants might find themselves with an unexpected call to settle some of our outstanding debts in nearly 100 years time?

We finally paid off all our North American debts from WW2 only in 2006.

October 3 marked the 20th anniversary of German reunification. Google had a special logo.

And Germany made the final payments of reparations from WW1, to the total amount of £62,000,000. It is not clear who will get all the money, since it represents interest on bonds which, according to an agreement made in the year of the Coronation of Elizabeth II, became payable only once Germany was reunified, something which many thought would never happen. So the bonds were bought & sold for curiosity value only, until the unexpected fall of the Berlin Wall.