Iraqui Debt - Who Owes It? by John Mauldin
Japanese Finance Minister Shiokawaproposed that the G-7 countries and
others forgive all of Iraq's debt, as a way to help them get started
again:
not postpone, or re-negotiate, but forgive. Excellent idea. Of course,
Russia, France and Germany, to whom much of the debt is owed, will not
be
happy. I would suggest that we allow those nations to take as much of
the
wealth of Saddam Hussein and his henchmen that they can find anywhere
in
the world in re-payment. Those evil men stole it from the people of
Iraq,
with the direct complicity of these countries, much of it in
contravention,
it now is clear, of the UN rules they so piously espouse. These
countries
have already gotten billions from Iraq, much of it illegally through
Syria.
The US spent billions to free to the Iraqi people. They should donate
to
the cause if they truly care about the people as they proclaim. I will
not
hold my breath.
On that note, I find it fascinating that after arguing for years that
sanctions should be lifted on Iraq, these Security Council members are
now
fighting the notion unless they are assured they will still get their
blood
money. It will be interesting to see in a few months, when there is a
legitimate interim Iraqi government, whether they will release to the
Iraqi
people the $40 Billion that the UN is holding. Watch the fight. We will
see
who cares about people and who cares about money. The US and Britain
will
not take one oil dollar, and the Arab street will see their "friends"
fighting over the spoils.
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