Choose given statement is true/false:

The First World War converted Europe from a continent of creditors to debtors.

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Detailed Solution

The above statement is True.
Europe became a continent of debtors after the First World War; the Weimar Republic was forced to make large compensation payments after the conflict, and its supporters were referred to as "November criminals." The entire continent was severely affected psychologically and economically by the conflict. The continent of Europe changed from one of the creditors to one of the debtors. Unluckily, the crimes of the past empire had to be carried by the young Weimar Republic. In addition to experiencing financial ruin due to having to pay the Allied nation's compensation, the republic also endured national humiliation and war guilt as a result of the Versailles Treaty. Conservative nationalist groups targeted the Socialists, Catholics, and Democrats as their main targets because they backed the Weimar Republic.

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