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International
Iraq Debt Relief backing Rises. I Wonder Why?
2003-12-19
The Paris Club of creditor states can agree a debt relief deal for Iraq quickly but the agreement can be signed only when the country has an internationally recognized leadership, the Paris Club’s president said on Thursday. Increasing hopes that a deal will be reached, Britain said during a European tour by U.S. special envoy James Baker that it backed the idea of a substantial reduction in debts estimated at $120 billion. The British comment echoed similar political pledges made this week by France, Germany and Italy after talks with Baker, who was visiting Britain and Russia on Thursday.
This article makes no mention of Japan, even though they agree too.

I know all of this is old news to Rantburgers by now. But, I have a question I haven’t seen addressed anywhere. What, exactly, did Baker tell/show France and Germany? I’m thinking that the US has piles of info that could be damaging to those countries should it "leak." Maybe the threat of some arm-twisting was enough to make them fall in line?
Posted by:growler

#4  An internationally Frogistan recognized Iraqi leadership could also repudiate the debts as odious, so these guys are playing with fire. Presumably hoping that if they have a pre-cut compromise deal on the table, the new Iraqi gov't will take it. That leaves us plenty of capability to spend the next few months 'reminding' the Weasels that our recommendation in that matter could vary, depending on their behavior. Conclusion: Baker may not need to use Saddam intel or reconstruction contracts as leverage - simply the statement 'this is the best you are going to get, perhaps you should take it.'
Posted by: Nero   2003-12-19 1:12:09 PM  

#3  One of the other posts implies that the contracts for rebuilding are being used as a lever. I am skeptical but, economically speaking, all three countries are experiencing nearly flat growth. Putin appears safe, but Chirac and Shroeder may need the contract and a percentage of the debt paid up to help their economic woes.

If this was the intention of the administrations quite generous rebuilding package from the get-go, this is a masterstroke. It will force the dissenters will have to acknowledge the new Iraq as legitimate and good.
Posted by: Super Hose   2003-12-19 12:05:21 PM  

#2  Looks like they left themselves a bit of weasel room.

but the agreement can be signed only when the country has an internationally recognized leadership,
Posted by: B   2003-12-19 11:53:39 AM  

#1  I'm leery of any notions about us twisting their arms with damaging info. A more likely cause of Frogreich's newfound spirit of cooperation, I suspect, is their realization that they're probably going to have to be dealing with Bush for another 5 years- that, and their increasing perception of having been outsmarted.
Posted by: Dave D.   2003-12-19 10:40:27 AM  

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