Germany and US agree to framework for potentially erasing 80% of Iraqs foreign debt

[tnitsuj]

http://news.bbc.co.uk/2/hi/business/4027863.stm

Be interesting if that happens. I doubt the Saudis and Kuwatis would follow suit.

 

[CycloWizard]

:thumbsup::thumbsup::thumbsup::thumbsup::thumbsup::thumbsup:

 

[AFB]

Sounds good, but

France offered to write off half the debt, but argued that, because Iraq is rich, it should not receive more debt forgiveness than the world's poorest countries.

The French do have a point.

 

[ciba]

Sounds good. I long held the belief that they should audit what got to the Iraqi people as opposed to supporting Saddam's corrupt regime. Use that ratio to decide what should be repaid.

 

[CycloWizard]

Originally posted by: amdfanboy
Sounds good, but

France offered to write off half the debt, but argued that, because Iraq is rich, it should not receive more debt forgiveness than the world's poorest countries.

The French do have a point.

For once, I actually agree with them. But only if they're actually willing to entertain forgiving debt to the poorest nations.

 

[Kibbo]

This whole proccess hints at very good things.

 

[DealMonkey]

It also would represent a considerable concession from France, just as French President Jacques Chirac's (search) government is pushing to rebuild ties with Bush's administration that were damaged by disagreements over the U.S.-led Iraq war. France opposed the invasion that toppled Saddam Hussein.

What a classy move by France! 😉

 

[3chordcharlie]

I guess Bono should be happy with this one😉