Report discussing the Greek war debt to England.

Treaty of Neuilly, to pay £90,000,000 sterling on account of reparations, the Allied Powers decided in 1923 to substantially curtail same as aforementioned (page 12-13) Considering on the other hand that for her pre-war debt Bulgaria obtained a reduction of the service thereof to 34% only of the sum paid before the war. Bulgaria in conclusion actually pays annually for her debt in gold 22,000,000 gold francs. Moreover the annual payment up to the year 1923 will not exceed 26,000,000 gold francs, and only as from 1933 onwards will the annual payment rise to 32,500,000 gold francs. When one compares this amount disposed of by Bulgaria for the service of her external debt, to the sum already provided by Greece and to what she will have to provide for on account of the new refugees loan and towards her proportionate share of the Public Ottoman Debt, one would again find that even if the whole of her war debt were to be cancelled the Powers would still have displayed greater leniency towards their former enemy than to their former Ally. It must be noted that by receiving from Greece for her war Debt a proportionate percentage to the one received from Italy the British Government would be in fact receiving a much bigger percentage in proportion. Indeed if the British Government had fully carried out its undertakings towards Greece under the agreement of 1918, and had paid to the latter the amount of £12,000,000 in full, then our debt to the British Government, putting aside the war material covered by the agreement of 1918 would amount today to:- -22-