Final answer:
The Treaty of Versailles contributed to the Great Depression by imposing massive reparations on Germany, leading to a 'triangle' of debt and repayment with the US and Europe, causing global economic instability and exacerbating problems in the German economy.
Step-by-step explanation:
The element of the Treaty of Versailles that exacerbated the global economic crises during the Great Depression was the imposition of massive reparations on Germany. These reparations created a complex financial dynamic where the United States loaned money to Germany, enabling them to pay the Allies, who, in turn, owed substantial debts to the US. This precarious 'triangle' of debt and repayment tied together the economies of the US and Europe, contributing to the global financial instability of the late 1920s and early 1930s. The economic strain on Germany was further intensified when it began printing money to fund government initiatives, leading to hyperinflation and the devaluation of the German Deutschmark.