1. 2 million soldiers were killed, 15% of German manpower compared with 10% of French and 5% British2. The war cost over £8 billion, only 16% of which was financed through higher taxes; the rest had to be made up by borrowing and printing money, which led to inflation, with prices rising by 250%, resulting in the mark falling to a quarter of its pre-war value3. Real earnings fell 20-30%4. The British naval blockade caused serious food and fuel shortages. This led to a vastly increased number of deaths from starvation, malnutrition and hypothermia: 293,000 died from these in 19185. Defeat led to the Treaty of Versailles, subjecting Germany to military restrictions, reparations, and territorial losses which cost Germany a large amount of her land, population and 48% of her iron ore