In 1919, Keynes produced a grand plan for comprehensive debt cancellation, plus a new bond issue, guaranteed by the Allied powers, whose proceeds would go to victors and vanquished alike. The Americans, who would have had to provide most of the money, vetoed the plan.
1919年，凯恩斯提出了一项完整的债务豁免大计划，连新债券的发行计划都一并想好了——该债券将由协约国的实力来担保，其收入将分给战胜国和战败国。结果这笔贷款的主要资金提供者美国投了否决票。