Many people over the years have argued the
Treaty of Versailles was a fair peace settlement for the following reasons:
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They believed Germany only said that it was unable to meet the terms because it wanted to escape punishment.
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They thought it punished the defeated countries but gave them the opportunity to recover.
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Some people believed it wasn't harsh enough. The French, especially, were worried Germany would soon recover enough strength to challenge France again.
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In 1918 Germany itself had made a with defeated Russia, the Treaty of Brest-Litovsk, that was much harsher than the Versailles Settlement.
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Germany had already agreed to pay in the Armistice of November 1918.
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At the time, the First World War was the most devastating conflict the world had seen, and people saw it as the right thing for losing nations to be punished in this manner.
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'History is written by the victors,' as the saying goes. In most wars it is common for the losers to agree to a harsh settlement.
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There were problems with the peace settlement, but the war had a huge impact on the geography of Europe. The peacemakers had to act quickly before the region became unstable so they did the best job they could.