3.2 The German republic experienced a spectacular economic recovery and Germany easily paid about 1.3 billion dollars in reparations in 1927 and 1928
3.3 In 1929 the Young Plan, named after the American businessman representing the U.S., further reduced German reparations and formalized the link between German reparations and French-British debts to the United States (worldwide recovery)
3.4 In 1925 the leaders of Europe signed a number of agreements at Locarno, Switzerland