Villepin says France and other creditor nations will study how to ease Iraqi debt burden

Associated Press ^ | Dec 15, 2003 | Jamey Keaten

[witnesstothefall]

PARIS, Dec 15, 2003 (AP WorldStream via COMTEX) -- France and other creditor nations are looking toward striking 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.

In all, Iraq owes some US$40 billion to the United States, France, Germany, Japan, Russia and other countries among 19 nations that belong to the Paris Club, an umbrella organization that conducts debt negotiations. At least an additional $80 billion is owed to other Arab countries and nations outside the Paris Club.

The announcement comes a day ahead of a visit to France by former Secretary of State James A. Baker, U.S. President George W. Bush's new emissary postwar Iraq. Baker is charged with trying to win international support for reconstruction, including promises to erase Iraq's crushing burden of foreign debt.

De Villepin also said France is interested in helping Iraq build its police force.

[witnesstothefall]

Nothing succeeds like success. The French just blinked.

[OpusatFR]

Yup. For all the caterwauling and handwringing on the alphabets and rags last week, they refused to notice that we have, perhaps, the greatest poker player in history sitting in the oval office.

[white trash redneck]

Or the new Iraqi government could just repudiate Saddam's debt. If the Russkies object, one could point out that the Bolsheviks did the same with the Tsar's debt.

[thoughtomator]

Odious debt, baby. The 'appropriate level' is zero.

[toddst]

Or the new Iraqi government could just repudiate Saddam's debt.

10-4, but with the exception of debts to coalition nations. Those who sacrificed to free Iraq need some compensation for the costs involved.

[Loyal Buckeye]

"Odious debt, baby. The 'appropriate level' is zero."

Plus a healthy contribution of new cash to be used for development in return for an opportunity to bid on new contracts.

[Southern Federalist]

I find myself daydreaming that the new Iraqi government will tell the French and the Russians: "We absolutely agree that Saddam should pay his debt to you. So we are going to put him a chain gang breaking rock for the rest of his life at 30 cents an hour, and pay you back out of that."

Actually, I think the tyrant should swing, but the other idea has appeal.

[Diogenesis]

[white trash redneck]

10-4, but with the exception of debts to coalition nations.

Agreed. My point being that the new Iraqi government can repudiate debt unilaterally. They do not have to "negotiate" with France, Germany, Belgium, and Russia as supplicants. The Iraqis, not the weasels, have the whip hand.

[mewzilla]

Saddamn's singing. Better study faster....Heh heh heh...

[OldFriend]

While the french may appear to be blinking......remember they always have a knife with which to stab you in the back, hidden in their pocket.

[Leisler]

Pay the debt in old Iraqi currency. There's got to be wharehouses full of the stuff.

[mewzilla]

Oh, the French will blink. Or Saddamn's Christmas bonus list will be made public. Bwah hah hah hah hah.

[OXENinFLA]

Hey France!

Here's Saddam, go collect.

[NordP]

"Villepin says France and other creditor nations will study how to ease Iraqi debt burden"

Good, 'cause there's gonna be a test soon.

NordP

[CasearianDaoist]

I had to laugh when they sent Baker over there - you want to talk about one tough, hard-balling SOB. It was not by accident that Bush sent him down to Florida in 2000. Neither the Dems or the Europenas have anything like this one. He most likely told them to STFU. Literally.

I bet Schultz and Kissinger made a few call too. I can just here it: "Well now, Helmut, people are pretty PO'd. You know that nuclear umbrella is only so big and then those troops over there are pretty expensive. There is talk about telling the Russians that we might just look the other way. I mean I'm out of the picture and all that but that is what I hear. Well, keep in touch."

Us dumb and unsophistacted Americans...hehehe.

[witnesstothefall]

Just so, lol. Baker's getting on in years. Wonder if his presidential ambitions have been put to rest. It certainly raised my eyebrow when he stood as counsel for the Sauds in that 9/11 suit.

[.cnI redruM]

The French are now interested in building up good karma in case Saddam starts talking. I'm sure Baker is telling them that he'd be happy to let some of the debt stand...
after he asks Saddam Hussein personally what the money was for.

[Fenris6]

The debt is owed by Saddam, not Iraq.

Hope France & Germany have a Plan B. hahahahhaha

[InterceptPoint]

"We absolutely agree that Saddam should pay his debt to you. So we are going to put him a chain gang breaking rock for the rest of his life at 30 cents an hour, and pay you back out of that."

That reminds me of an old joke:

Man: "I just signed a million dollar contract".
Wife: "Wow, tell me about it."
Man: "I get a dollar a year for a million years".