The First World War was the second worst war the history has ever known. Millions of people died and got wounded (roughly 8 million men died and 13 million were wounded). World War 1 broke down between the Central European Powers (Austria-Hungary, Germany, Turkey (Ottomans) & Bulgaria) and the Allies (Great Britain, Russia, France, Belgium, Japan, Italy, Portugal, Romania, USA, Greece & Brazil) because of many reasons:

• The desire of nations to enlarge their empires.
• The Spread of spirit of militarism.
• The spread of the spirit of nationalism.
• Forming of alliances.
• Assassination of the Archduke Franz Ferdinand.

The World War I lasted for roughly 4 years (1914—1918) and was put to end after Germany signed the cease-fire at 11am on the 11th of the 11th month of 1918. After that the peace treaty of Versailles was signed in the presence of Woodrow Wilson (US president), George Clemenceau (French Prime Minister), David Lloyd (British Prime Minister) & Vittorio Orlando (Italian Prime Minister). The Treaty of Versailles forced Germany to sign a statement of guilty for the World War I costs.

It forced Germany to pay reparations of about ₤6,600 million. It limited the number of the German army, prevented them from having tanks and air forces.
Like World War I caused losses in people's lives, losses in political relations and losses in many lands for many countries, it caused a very serious loss in the economic side for almost all the world major countries. World War I was more or less the major reason behind the 1929 world crisis. Because of the huge losses in money and resources, German reparations and US repatriation, after World War I, the whole world was suffering. Millions got unemployed. Some countries had full warehouses but no exports. Others had starvation. It was really the worst war the history has ever known after World War II. Treaty of Versailles proposed the formation of the League of Nations to end wars in the world and prevent any other wars from breaking out. It wasn’t really worthy because after about 20 years from its foundation World War II broke out which was more severe than World War I.   

Click here to watch a video clip about Woodrow Wilson and Versailles treaty.