So by your logic France is still the greatest military nation then ?
History is even more History now than it was a 100 years ago, because our way of living is completely different. The world we live in is brand new. Nothing that happened in history can be used now for pride or for example, because it's from a time we have nothing to relate it to.
And of course Israel should not recieve any reparations. And inheritance is a tricky deal. In most country the further you are from the parent, the more you have to pay for that inheritance. And you can of course reject it, same as the debts.