France owes US 11.5 billion

[Czar]

Originally posted by: Lucky
what do you mean by that czar?

if I remember correctly it was the US who was the most against erasing debt of third world countries

 

[BaliBabyDoc]

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Originally posted by: BaliBabyDoc

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You think that they are not doing enough in condemming these scandals? The WSJ has been the one to expose many of them.
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You must be kidding. The WSJ spent 1996-2000 as head cheerleader. The OpEd page is the epitome of the "take everything but the light fixtures" ethos.
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I'm talking about right now. I admit I did not read the WSJ as much 4 years ago as I do now, but they are extremely aggresive in their reporting now. You are aware that they won a pulitzer prize in 2003 for for explanatory reporting on the corporate scandals?

You must not read it as much as you think.

Talking about scandals in 2003 is soooo noteworthy. I bet the WSJ is the sole daily on the entire planet writing articles about corruption in America. I stopped reading the WSJ (on a daily basis) when I left home for school. After college I transitioned to IBD but in my current life they are worth little more than a skim at the newsstand.

As for my comment on the OpEd page ethos . . . I'm talking about more than corporate scandals. You must not read it as much as you think.

 

[Lucky]

Well it's unfortunate you don't read it any longer. As I said, I don't know what they were like last millenium but they have been instrumental in exposing many corporate crimes. And they've been consistently doing this ever since I started subscribing two years ago.


Their own op-ed's (review and outlook) seem to mirror the condemnation seen in their articles detailing fraud.

Not like any of this has anything to do with france's debt.

 

[mastertech01]

I think the US should at least allow the French to repossess all those weapons they sold to Iraq. They can always resell them to Iran to cut down on shipping costs.

 

[Lucky]

Originally posted by: Czar

Originally posted by: Lucky
what do you mean by that czar?

if I remember correctly it was the US who was the most against erasing debt of third world countries

(if you remember correctly) perhaps that is because debt relief accomplishes little without long term reform. New economic policies are needed or else the cycle simply continues and 5 years down the road debt relief is pleaded for again.

 

[Pers]

Originally posted by: mastertech01
I think the US should at least allow the French to repossess all those weapons they sold to Iraq. They can always resell them to Iran to cut down on shipping costs.

haha...that's actually funny


anyway...i read your sig. sorry.

 

[dpm]

Originally posted by: Lucky

Originally posted by: Czar

Originally posted by: Lucky what do you mean by that czar?

if I remember correctly it was the US who was the most against erasing debt of third world countries

(if you remember correctly) perhaps that is because debt relief accomplishes little without long term reform. New economic policies are needed or else the cycle simply continues and 5 years down the road debt relief is pleaded for again.

Very true. So I say France should hold off forgiving Iraq's debt till the country is stabilised and its new economic regime is clear

But seriously, the US has done a bit to break down the problem of third world debt. As much as any of the other G7 countries. Its just that it hasn't been much, and its hasn't really been in a workable form.
As you say, for it to work, real economic reform is needed in the debtor countries, as well as political reform in some, for debt relief not to be wasted. However, it would seem that we also need to reform the way we give out these loans in the first place, and the way we manage them.