I don't see why the new government of Iraq even recognizes that they have a debt. Those countries loaned money to a totalitarian dictator. I'd take the position that the Iraqi people are not responsible for his debts.
I wonder if a deal has been made with US officials as to how hard we'll dig into the Oil for Food scandal?
The massive debt was another card for France and Germany. They threatened to lock up the Food For Oil accounts to pay these off - easy to do, site the dough rested much in French banks.
If they're cutting a deal now, it's because they wre holding out to see if Kerry and his coterie got elected. There's nothing new about this.