Germany asks Kuwait to forgive Iraqi Debt

[eosirl2]

http://story.news.yahoo.com/news?tmpl=story&u=/nm/20050301/wl_nm/iraq_kuwait_schroeder_dc&cid=574&ncid=1473

KUWAIT CITY (Reuters) - German Chancellor Gerhard Schroeder (news - web sites) called on Kuwait and other Arab nations to waive Iraq (news - web sites)'s multi-billion-dollar debts to help the war-torn country get back on its feet. .....


:happy64:

[sprtbuf]

Great news...hope they follow suit.

[MacAndHarm]

Great news, I only hope that some of the countries follow through and "forget the debt"!

[eosirl2]

Great news, I only hope that some of the countries follow through and "forget the debt"!


Oh...this is subtle peer-pressure at its best. And to think that Germany and the G8 were kicking against the idea of debt forgiveness for the Iraqi people.

Hmmm...I wonder what Bush said to the Germans to make them so supportive in this matter??

If these other wealthy countries fail to go along with the mainstream of things, they will look like international fools. :lmao: You really can't build a positive public image when you kick someone when they are down... now can you?

[fms]

Oh...this is subtle peer-pressure at its best. And to think that Germany and the G8 were kicking against the idea of debt forgiveness for the Iraqi people.

Hmmm...I wonder what Bush said to the Germans to make them so supportive in this matter??

If these other wealthy countries fail to go along with the mainstream of things, they will look like international fools. :lmao: You really can't build a positive public image when you kick someone when they are down... now can you?

I believe if they can get this debt issue solved , we will see the opening of the dinar soon after. Iraq cannot appear to have too much wealth while asking for relief.

[Tyreds Tale]

Hmmm...I wonder what Bush said to the Germans to make them so supportive in this matter??


Wish I was a fly on the wall for that conversation! I wonder if the word Dinar came up? Germany is making out well off our funded recon projects in Iraq. With their unemployment at 12.6%, I bet Germany wants a little more of teh action. They are all about business and numbers there. Whatever gets the profits going...

I wouldnt mind Germany involved in some of Iraq's currency challenges. They led the way in creating the Euro, created to rise in value and dominate the world markets. Our dollar, or greenback, was initially ment to guarantee our soldiers fair return for their service. No bank would reject them becouse of the honor of our servicemen. Thus was born the first real papermoney. Anyway, Germany is a much more calculating bunch. I work for Siemens so I should know.

[Goalie Interference]

Absolution of their debt remains one of the biggest factors in the Dinar scenario. Until Iraq can show economic reasons for increased value of their currency (i.e. growing economy/GDP, foreign reserves, gold reserves, sustainable debt, etc.) there will be little reason to expect it being worth much more than it currently is. Their debt continues to be unsustainable, and until it is otherwise, the Dinar's value won't change much.
Does anyone know the current debt burden remaining? Chaka had a tally going for a while I thought, but after the Paris Club meetings, the topic has faded away.

[MEALTICKET]

My guess is around 45 billion prior to Kuwait forgiving 16 billion.

[Terd]

80B after Paris Club eliminated 40

[DrCashflow]

@ 85B if including reparations and commercial claims

[MEALTICKET]

No guys that not correct. Where talking debt forgivness.

[Goalie Interference]

If I remember right, it was still in the 80 billion range. C'mon Chaka, I remember you having some input in the past. Can you remember the thread?

[Chaka]

If I remember right, it was still in the 80 billion range. C'mon Chaka, I remember you having some input in the past. Can you remember the thread?

countdown from "The Count"

--------------------------------------------------------------------------------

Hooked up with another firend from the past.."The Count" and he says

"64 wonderful billion dollars of debt ahh aah aah,
64 beautiful billion dollars of debt agh aah aah..
I love to count"

has been reduced more since them

[PennStateMtnMan]

I wonder what Germany has to gain from all of this. Why are they jumping on the bandwagon now? I know the obvious stuff, but there has to be some back room political wrangling going on that we don't know about.

[magnum70]

[QUOTE=PennStateMtnMan]I wonder what Germany has to gain from all of this. Why are they jumping on the bandwagon now? I know the obvious stuff, but there has to be some back room political wrangling going on that we don't know about.[/QUO
Maybe they just want to be nice :lmao:

[QBan]

i know the answer, it's the word greeeeennn $$$$$$$$$$$$ lol :lmao:

[Mentronyc]

That black gold makes people forgive alot of stuff :)

[Goalie Interference]

It's all about oil. If you recall, Germany was one of the countries that had arranged back door deals with Saddam to develop oil fields in Iraq. They don't want to see their bribe money go down the toilet with absolutely nothign to show for it.

[BrerRabbit]

Absolution of their debt remains one of the biggest factors in the Dinar scenario. Until Iraq can show economic reasons for increased value of their currency (i.e. growing economy/GDP, foreign reserves, gold reserves, sustainable debt, etc.) there will be little reason to expect it being worth much more than it currently is. Their debt continues to be unsustainable, and until it is otherwise, the Dinar's value won't change much.
Does anyone know the current debt burden remaining? Chaka had a tally going for a while I thought, but after the Paris Club meetings, the topic has faded away.

This is a list of debt...

http://www.jubileeiraq.org/debt_today.htm

but it doesnt list what has been forgiven. Also you have to remember the UNCC decisions on reparations are being detemined.

[bert]

see kuwait+saudi almost 60bil together.they need to pick there prime-pres-and vice presidents already!they need to get there cabinet together.both have said they will reduce,but only when they have a international recognized gov.its just there waiting for them. :D