868.51 War Credits/632

The Greek Legation to the Department of State



Although the sum of $21,456.00 asked by the American Government does not constitute a large sum, the real incapacity of Greece, from an economic and budgetary point of view, is so great that against her will she finds herself in the unavoidable and hard necessity of being unable to meet even this obligation which, in appearance, is small.

As regards Greece, this difficulty is increased by the fact that the nonpayment of reparations not only leaves uncovered the entire amount of [Page 546] her war debts, including the first and second debts to the United States, but furthermore constitutes a real charge on her budget.

As is known, Greece, in spite of her situation which has grown constantly worse and reached its culmination as a consequence of the world crisis, has shown herself until now absolutely faithful to her obligations.

Finding herself today in the impossibility of meeting her obligations, Greece in no way means to withdraw unilaterally from her contractual obligations, but has the honor to renew her preceding request to enter into pourparlers with a view to revision of the debt to the United States which constitutes a direct or indirect consequence of the war.