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| Europe |
| France to Rethink Iraqi Foreign Debt |
| 2003-12-15 |
| "Retreat!" France and other creditor nations are looking to strike a deal on helping Iraq reduce its foreign debt next year, the French foreign minister said Monday. He did not specify how much debt might be canceled or restructured. Dominique de Villepin said France wants to work with members of the Paris Club of creditor nations to find an appropriate level of debt that is "compatible with the financial capacities of Iraq." He was speaking at a news conference after meeting a delegation of visiting Iraqi ministers, led by the acting president of the governing council, Abdel Aziz Al-Hakim. The announcement comes a day ahead of a visit to France by former Secretary of State James A. Baker, President Bush’s new emissary to postwar Iraq. Baker is charged with trying to win international support for reconstruction, including promises to erase Iraq’s crushing burden of foreign debt. Sounds like the French already blinked. De Villepin also said France is interested in helping Iraq build its police force. We can talk about it. |
| Posted by:Steve |
| #15 Do you see grasshopper? Rantburg U. |
| Posted by: Lucky 2003-12-15 11:49:41 PM |
| #14 France should rethink the Iraqi debt issue. I have a feeling that there is alot of dreck being dredged up on documented complicity of Chiraq with Sammy and Co. We will have to see. |
| Posted by: Alaska Paul 2003-12-15 10:34:12 PM |
| #13 Carl, I think the $14B was probably written off as bad debt or maybe we forgave some of it. JFM, the US isn't much of a creditor. I am glad that we did what we did with grants. Without Chiraq in power and the governments tight control of the media, I don't think the French people would be anti-American. |
| Posted by: Super Hose 2003-12-15 7:50:37 PM |
| #12 Thanks .com I thought I would publish the totals because, well, what the hell: U.S. Loans 1946 - 2001, in current US millions: total: 65,768.4 repaid: 28,400.6 outstanding: 23,142.6 (14 Billion short. Not sure why it doesn't add up -- might be baksheesh quotient ?) U.S. Grants 1946 - 2001, in current US millions: (these are not intended to be paid back, of course) Total: 297,063.3 Wow. We are an easy touch, aren't we ? |
| Posted by: Carl in N.H. 2003-12-15 5:30:26 PM |
| #11 Dan 1) The 1923 inflation was largely staged by the German government: it stopped in a matter of days once the German government reached its goal: the retreat of the French Army from the Ruhr without Germany paying what it owed. Prices had been multiplied by ONE MILLION in six months. And suddenly in a few weeks, nothing. Do you think this is possible if inflation is not artificial? 2) The 1923 inflation did not bring the Nazis to power: in 1928 the Nazi party was a small and declining party. It was brought to power by the 1929 depression 3) About the sanctions. Suppose you have a business of say, Chinese food. One day one of your competitors sends thugs who destroy your installations. Would you ask for your competitor having to pay for the repairs? (In case of France and Belgium hundreds of mines and fabrics had been sabotaged by the Germans, entire regions had been made unfit to agriculture due to mines or poisoning by amo or gasses). If your competitor paid for the damages but used the time you cannot produce in order to corner the market so that when you return you find your former clients have contracts with him would you think it was fair if he had to pay only for the installations? Don't you think they should cripple him so he can't take advantage of the damage he has caused? 4) If you had fallen in debt during the fight would you find fair that your creditor (we will call him United States) was asking to be reimbursed all while asking you to forgive the debt of your agressor? Note: The above doesn't preclude I find Mr Galouzeau (Villepin's real name) and his master utterly corrupt and repugnant. |
| Posted by: JFM 2003-12-15 4:50:41 PM |
| #10 De Villepin also said France is interested in helping Iraq build its police force. Here's something printed in a sidebar in today's local newspaper (emphasis mine): "Today there is a path to the reconstruction of Iraq....All of us must engage it by involving the countries of the region to re-integrate Iraq in its environment and giving the United Nations its rightful place to guarantee the legitimacy of the process." -- Dominique De Villepin I only have one thing to say to this.... Haahahahahahahahaa!!!!!!!!!!!!!! |
| Posted by: Bomb-a-rama 2003-12-15 2:07:25 PM |
| #9 Carl - Here's the US Aid listing for France. Note that the vast majority of the Marshal Plan funding to France was in the form of grants, not loans - so officially, they're paid up. This is called the "Green Book" and contains everyone who's received money from the US through the US Aid (and older consolidated) Program. Note that this will not contain other funding, such as that created via legislation, I believe. Very eye-opening stuff - and puts the lie to the zipperheads who think the US doesn't try to help damned near everywhere and everyone on the planet. Our tax dollars |
| Posted by: .com 2003-12-15 1:21:52 PM |
| #8 The Marshall plan was not presented as a loan - more like a grant. Not sure you will find anything under the heading "war debt". Try reparations, like when the frops and brits layed the ground for WWII with their arrogant reparations demanded of Germany after WWI. |
| Posted by: Dan 2003-12-15 1:06:36 PM |
| #7 In re the "Marshall debt": I was googling for details on war debt held by all nations, and could not find anything. Does anybody know a good site for such info ? |
| Posted by: Carl in N.H. 2003-12-15 12:34:03 PM |
| #6 The deal the French Government offered may be contingent to limiting Saddams interrogation? If we forgive the debts, you won't have to ask him how they were created in the first place. |
| Posted by: john 2003-12-15 12:06:26 PM |
| #5 I still say we'd be happy to reduce frogistan's Marshall Debt to US by the same amount they reduce Iraq's debt to them. And we'll hold off presenting the remainder of the bill. |
| Posted by: Anonymous2u 2003-12-15 11:54:04 AM |
| #4 That was quick. The French govenment must have used the same negotiator that cut the Libyan deal. |
| Posted by: Super Hose 2003-12-15 11:40:07 AM |
| #3 good old fashioned arm twisting Well, Dubya was wrenching on ONE of their appendages, at least. Don't think it was their arm, though. The term 'short hairs' comes to mind. Maybe if the despicable french had a few regiments of legionnaires in Iraq helping out, they might actually have something meaningful to say. Right now, they're just missing a good opportunity to keep quiet. |
| Posted by: 4thInfVet 2003-12-15 11:05:50 AM |
| #2 France will forgive that portion of Saddam's debt that was used for humanitarian purposes. |
| Posted by: Robert Crawford 2003-12-15 10:46:39 AM |
| #1 aaaaahhhhhh. and so we see the point of that whole exclusion from reconstruction bids. good old fashioned arm twisting. |
| Posted by: eyeyeye 2003-12-15 10:13:35 AM |