You know we live in unusual times when the French accuse the Americans of acting arrogantly in Iraq, and the Germans refuse to fight.

And here is one more sign: The anti-globalization movement may have the best insight yet when it comes to recovery in Iraq. The anarchists and the mini-hippies, who regularly crowd the streets of Washington and other capitols in search of something to protest, are fairly consistent in one demand at least: They want Third World debt relief. So does the European Union, which has lobbied vigorously at the United Nations and the World Bank for the crushing debt of Third World countries to be lifted.

Debt relief, that's it. Whatever else the Iraqis need, and the list is long, they most certainly need debt relief. Billions of dollars are owed in French, German and Russian debts that could cripple the Iraqi economy irreparably were repayment demanded of the new Iraqi government.

So, let's give the new government a clean slate, and let's do it in the spirit of multilateralism. This is an opportunity not to be missed by those who pretend to be speaking on behalf of the developing world. It is a wonderful chance for these great champions of the Iraqi people to put their money where their mouth is.

...when it comes to international debts, Iraq holds the record.
...
As if that wasn't enough, Iraq also owes $199 billion in Gulf War compensation, and $57 billion in pending contracts with foreign companies. And guess where most of those hail from? They are based mostly in those countries that sought to block American military action against Saddam's brutal dictatorship through the U.N. Security Council, a fact that was obscured by high-sounding rhetoric in the negotiations leading up to the war.

This translates into a debt of $16,000 for every man woman and child in Iraq, 25 times the debt of Brazil or Argentina.

» Give Iraq a Clean Slate