The Treaty of Versailles (1919)

The Treaty of Versailles imposed crippling reparations, territorial losses, and military restrictions on Germany after World War I. John Maynard Keynes warned at the time that the punitive terms would destabilise Europe. He was right — the treaty's harshness fuelled German resentment, hyperinflation, and the rise of Adolf Hitler. Many historians consider it not a peace treaty but a 20-year ceasefire.