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2003-10-04 Iraq
Iraqi newspaper questions external debts
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Posted by Steve White 2003-10-04 12:21:01 AM|| E-Mail|| Front Page|| [6477 views since 2007-05-07]  Top

#1 This is going to take a long time to unravel. My view is that indebtedness incurred because both sides broke the embargo, are losses, pure and simple; If the illegal item still exists, then Iraq can simply return the item to the sellor, and the sellor can cancel the debt.

I can't help but to wonder how the UN can reasonably expect to collect reparations when it failed to vote for liberation of Iraq.
Posted by badanov  2003-10-4 5:35:41 AM|| [http://www.rkka.org]  2003-10-4 5:35:41 AM|| Front Page Top

#2 badanov >> I'm with you. I say to hell with the France, Russia, China, etc. If they want to get paid send the bills to Saddam himself. In the end, I hope the Iraqi people "justly reward" France, Russia, and China for all of the help they gave to liberate the Iraqi people.
Posted by Paul 2003-10-4 8:11:02 AM||   2003-10-4 8:11:02 AM|| Front Page Top

#3 Since Sammy undoubtedly has billions stashed still, the countries should consider their contracts to be with him, and pony up bounty to try and get him jugged so they can get at least a portion of their money back. Iraq owes them nothing. Consider it as a bail bondsmen trying to get his bond back from the victim when the criminal's skipped...makes more sense, huh?
Posted by Frank G  2003-10-4 10:55:10 AM||   2003-10-4 10:55:10 AM|| Front Page Top

#4 There's a lot of Europeans who have long been concerned about getting paid. The new government should declare a freeze on any and all payments and go after Baathist/frozen 'overseas' assets. Then invite creditors to negotiate individually in a nice, quiet, heavily armed Kurdish village...

Posted by Pappy 2003-10-4 11:54:33 AM||   2003-10-4 11:54:33 AM|| Front Page Top

#5 Apparently the Russkies, Chinese and Euro have forgotten the gold rule of criminal economics:

Cash only...

If your customer tells you he can't pay right now after delivery, its time to think of options for the weasel, namely, putting him out of your misery.

If you continue to make deliveries and you aren't seeing any money, the time to take action is gone forever.

Better luck next time, boys.
Posted by badanov  2003-10-4 1:42:50 PM|| [http://www.rkka.org]  2003-10-4 1:42:50 PM|| Front Page Top

#6 What to do about the debts is for Iraq to decide. Usually defaulting to such large economic powers would be a bad thing for a country trying to rebuild. In this case, the US would probably be a souce of any loan money required by Iraq for the near term.

It would be healthier if the elected Iraqi government could negotiate something with all or several of these countries on their own. That would put Iraq in a position to flip the US the bird and start undercutting us in the UN like all our other friends.
Posted by Super Hose  2003-10-4 3:52:46 PM||   2003-10-4 3:52:46 PM|| Front Page Top

#7 Sounds like the Russians need to collect the $25mm bounty on Saddam and apply it to their debt. Oh, right. They've got no idea where he is or how to find him. Nope.
Posted by Matt 2003-10-4 5:45:05 PM||   2003-10-4 5:45:05 PM|| Front Page Top

#8 Amazing. The only country that could put one over Saddam was NoKor? Right.
Posted by john  2003-10-4 8:18:52 PM||   2003-10-4 8:18:52 PM|| Front Page Top

#9 Actually Iraq's debts to Euro countries date back to pre-embargo times. I bet the embargo breakers insisted on cash. Btw the bulk of debts is owed to the Gulf States.
Posted by True German Ally 2003-10-4 11:01:49 PM||   2003-10-4 11:01:49 PM|| Front Page Top

10:08 Ernest Brown
07:20 Zhang Fei
04:54 JFM
03:24 Jeff
01:52 typical lefty
00:51 True German Ally
00:30 True German Ally
00:03 Steve White
23:59 Steve White
23:21 Bomb-a-rama
23:15 Sorge
23:08 Bomb-a-rama
23:06 Bomb-a-rama
23:01 True German Ally
22:57 Bomb-a-rama
22:56 True German Ally
22:49 Bomb-a-rama
22:46 Bomb-a-rama
22:23 Frank G
22:21 Frank G
22:19 Frank G
22:18 True German Ally
22:15 GregJ
21:59 g wiz
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