After World War I the Treaty of Versailles was the most important treaty of the Peace of Paris, for it spelled the details of the Allied peace settlement with Germany. The treaty reduced and restricted Germany territorially and stripped it of all of its overseas colonies too. It was also demanded that Germany had to pay reparations for the damages it caused during the war and the costs of the Allies for fighting in it. Separate peace agreements were signed with Austria, Bulgaria, Hungary and Turkey. The Ottoman and the Austro-Hungarian empires disappeared and new nations rose from the breakup.
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