Lausanne Conference
 

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Lausanne Conference
Representatives of Germany, Great Britain, France, Germany and Japan, met to decide the issue of German reparation debt payment. An agreement was reached whereby the debt would be deferred. The agreement was contingent upon the U.S. agreeing to also defer the debt payment of the Western European governments. When the U.S. Congress forbade any cancellation or reduction in debt repayment, the agreement disintegrated.