Soldato
I use to think the treat of Versailles was a major factor that led to WW2 but from what I've read it's not the case. France had much harsher repetitions from the Franco-Prussian War of 1870 and Versailles was watered down over the years and Germany stopped paying in 1931and cancelled altogether in the following year.I think that there was a perception that "punishing" Germany (or Japan) would only lead to future trouble as happened as a result of the World War I reparations.
WW2 was driven purely by Hitler's racism, I know he citied WW1 being a shame on Germany but it was never going to the reason for conflict. Hitler honestly believed countries like France and UK would never against Germany fighting Slavic countries due to a shared Anglo-Saxon ancestry but he was to naive to think that wasn't how other countries thought about the world.