Lausanne Conference
Because of the political differences between countries on the subject and impending elections in France and Germany, a conference could not be established until June. This delay brought about the downfall of Brüning's Government. On 16 June, the Lausanne Conference opened. However, discussions were complicated by the ongoing World Disarmament Conference. At the latter conference, the US informed the British and French that they would not be allowed to default on their war debts. In turn, they recommended that war debts be tied into German reparation payments, to which the Germans objected. On 9 July, an agreement was reached and signed. The Lausanne Conference annulled the Young Plan and required Germany to pay a final, single installment of 3 billion marks, saving France from political humiliation and ending Germany's obligation to pay reparations.