Iraq's Odious Debts

Victors will split the spoils of war

Tom Christian
Sarasota Herald Tribune
April 13, 2003

No surprise that the three countries who stood to lose the most, economically, from the removal of Saddam Hussein most strongly opposed the military action. France, Germany and Russia stood to lose billions of dollars from oil and weapons contracts (France was the leading armorer of Iraq’s military).

Due to the Doctrine of Odious Debts, these same countries stand to lose billions in debt owed by Iraq. This doctrine states victims of tyranny are not responsible for debts incurred by the tyrant.

Guess who now is pressing to have leading roles in the rebuilding of Iraq?

Before the final shots are fired, France, Germany and Russia are angling to try to grab a piece of the Iraqi pie.

Since when do the spoils go to the cowards?

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