The Greek ‘Forced Loan’ during the Second World War. Demand for Reparations or Restitution?

Abstract In the wake of the discussions in the European Union about how to cope with Greek indebtedness, Greece has insisted on German repayment of the ‘Forced Loan’ (Zwangsanleihe) transacted during the Second World War. As yet, the legal and economic status of this financial transaction has not been clearly determined. Clarification in this regard would represent an important prerequisite for assessing the lawfulness of Greek claims. Instead, the lack of definition of the ‘Forced Loan’ has led to fierce arguments in the media; even in academic discourse, interpretation of the historical documents has been characterised by emotional opinions and rhetorical attacks. The author contributes to the discussion by offering in-depth insights into the historical context by considering sources that until now have received little to no attention.