He was responsible for directing Germany’s war economy (1916–18) and later became Minister of Reconstruction (1921) and Foreign Minister (1922) in the Weimar Republic. He believed that Germany must fulfil its obligations under the Versailles Peace Settlement, including payment of reparations. Convinced of Germany’s ability to gain ascendancy in Europe he negotiated the Second Treaty of Rapallo (1922) with Russia, establishing military and trade links. He was assassinated by anti-Semitic nationalists in 1922.