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Strategies & Market Trends : Stock Attack II - A Complete Analysis

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To: dennis michael patterson who wrote (43737)	3/10/2003 9:26:41 PM
From: Haim R. Branisteanu	of 52237

Warning shows Chirac is a man on a mission By Robin Gedye (Filed: 11/03/2003) The declaration by Jacques Chirac that France would veto a second resolution on Iraq "whatever the circumstances" is a milestone on his mission to put his country back on the map of world players. President Chirac has already added "the missing page in history" by reinvigorating French pride and standing up to America, the French daily Le Figaro wrote in a recent editorial - before cautioning that it might be time to step back while there is still time. But while France argues it is acting out of principle in an attempt to stop the world going to war unnecessarily, critics suggest its motivation is less high-minded and stems from France's long ties with Iraq. It was M Chirac, in his former role as prime minister, who brokered a deal to help build Iraq's first nuclear reactor in the 1970s - destroyed by Israel in a bombing raid in June 1981. France - and M Chirac in particular - has been at pains to build the closest commercial ties to Baghdad of any western country and second only to Russia outside the Middle East. Just four months ago, with war looming, France had 81 companies in its pavilion at Baghdad's annual trade fair. America had none and Britain had just one. France was by far the largest non-regional exhibitor at the fair attended by 1,200 representatives from 49 countries. Officials in Iran, which fought a 10-year war with Iraq, sometimes refer to M Chirac as "Shah-Iraq", while Israelis pronounce the name of the Osirak nuclear reactor they bombed "O-Chirac". Even in France he was referred to in newspapers during his period as prime minister as "Chiraq". M Chirac's domestic success in opposing war with Iraq has brilliantly exploited the pacifism of the Left and the commercial interests of the Right. It is no coincidence that France, Russia and China, the three Security Council countries defying America on Iraq, have by far the largest potential oil pacts in Iraq. France is Iraq's largest western trading partner with annual exports worth an estimated £415 million. There is no question that a Security Council veto by France would deliver a further surge in domestic popularity for Mr Chirac - a rare gift to a politician usually only handed out when a nation goes to war rather than opposes it. telegraph.co.uk

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