Central Powers* sorry about the typo.
As you probably know, Turkey won "War of Independence" which essentially saved Turkey.
Follow up question: Did the signing of Treaty of Lausanne caused any loss of prestige for Italy, Greece, UK and France? How was the treaty seen throughout the world?
The changes between the Treaty of Lausanne and the Treaty of Sevres, had largely to do with the Turkish War of Independence, which saw the Turkish Army under Mustafa Kemal's leadership expel the Greek Army from Asia Minor, and occupy much of the 'international zone' around the Dardanelles. The Italians abandoned their zone in Lycia, and the French and British were eager to demobilize their forces in the region, considering the run to demobilize the armies left over from the Great War. There simply wasn't the political will to enforce Sevres, especially with the Turks being in a much stronger position, and enforcing Sevres would have been more trouble than it was worth. The result was the Treaty of Lausanne, which essentially recognized Turkey's borders as they are today, in return for recognition of Allied mandates in the Middle East.
Germany's military had been heavily downsized, influenza was sweeping the country, there was political turmoil at home, and the economy was in very rough shape thanks to poor wartime policies. Bulgaria was also in a poor state, and Austria and Hungary had been shrunken down by territorial losses. The circumstances simply didn't allow for what the Turks were able to achieve to be replicated. However, the Germans were able to throw a wrench in the reparations scheme by hyperinflating the Mark, which led to the Ruhr Crisis of 1923 and to the adoption of the Young Plan and the Dawes Plan in 1923-24.