UAE to cancel Iraq's $7 billion debt

[Platapus]

This is good news.

http://www.cnn.com/2008/WORLD/meast/07/06/iraq.uae/index.html

UAE President Sheikh Khalifa bin Zayed Al Nahyan promised to "put out these debts," appoint an ambassador to Baghdad, and "help Iraq building the holy shrines that were targeted by the terrorists," al-Maliki said in a written statement.

I hope this works out. :yep:

[Skybird]

It's our money spend for oil that allows them the luxury to do like this... Building shrines? Haven't they got more important priorities...?

Reminds me a bit of the foreign aid for Afghanistan - aid organisations and long time-specialist having spend the last years there say that around 60% of all money going there dissapears in corruption, theft, organised crime and otzher dark channels. the answer of the UN: calling for raising the level of money being send there, so that even more money could get sunk that way.

In both countries, the aid should not be increased, but reorganised and MUCH better controlled, and linked to conditions the official governments must fulfill. especially in Afghanistan the Afghans should solve the problem with corruption first before calling for a raise.

[Tchocky]

Once you spend it it ain't your money no more

[Skybird]

Once you spend it it ain't your money no moreExactly. But makes this any westerner think on how to better keep it with us so that they have no money to waste it for their golden bathrooms and ten Rolls Royce in their garages? Without oil the UAE and others would be nothing, for they had neither industry nor technology nor productivity nor scientific rank nor cultural value that would be interesting for the world nor any valuable knowledge to offer. they buy all this and import it due to the dollars and euros with which we franatically feed them.

Just because after the first oil crisis nobody was listening to the claxons ringing red alert.