Peace with Honour

The Peace with Honour is the treaty between the Central Powers (Germany, Austria-Hungary, Ottoman Empire and Bulgaria) and the remaining free powers of the Entente (the British Empire and its Dominions, Portugal and Japan) which officially ended the Weltkrieg.

The situation of the war
In 1921, the Weltkrieg had come to a stalemate. In the Middle-East the Central Powers were unable to cross the Suez Canal, where the British forces were entrenched, and weren't in the position to attempt a naval invasion of the British Isle, let alone Portugal or Japan. The war had strained the economy of every country and proved the weaknesses of both Austria-Hungary and the Ottoman Empire. Germany had lost its colonies in Africa and Asia, but had clearly won the war, even if a complete victory was not achieved. A rebellion in the south of Italy overthrew the Austrian backed Kingdom of the Two Sicilies and had led to the creation of the syndicalist Socialist Republic of Italy in April, while the Ottomans seemed unable to overcome the Arab forces entrenched in Riyadh. It was obvious to everybody that the end of the war could be achieved only through negotiations.

The treaty
In November 1921 General Ludendorf proposed to Lloyd-George the "Peace With Honour". Under the terms of this treaty it was agreed that Britain would acknowledge Germany's gains from the war, whilst Germany would respect the Imperial possessions of the remaining Entente powers of Britain, Japan and Portugal. The former German colonies were to be returned and the Ottoman Empire were to gain control over Cyprus.

The treaty was formally signed on November 11 1921, declaring the end of the Weltkrieg after more than 7 years of a war that had changed the destiny of Europe.