Posted on 05/13/2005 1:44:46 AM PDT by twinself
WARSAW, Poland (AP) - Poland on Thursday repaid most of its communist-era debt to the United States, handing Washington $868 million, a government official said.
Deputy Finance Minister Wieslaw Szczuka was quoted as telling the PAP news agency that the payment accounted for all of the money Poland owes the U.S. through the Paris Club of creditor nations - with the exception of $96 million, which has been transferred to an ecological fund.
Szczuka added that Poland plans to pay Sweden the 202 million euros ($258 million) it owes on Friday. However, he said, Poland is awaiting an answer from its biggest creditor, France, on its repayment plan.
With its early payback of part of the money owed through the Paris Club of 19 creditor nations, Poland hopes to save on the high, often fixed interest rates it pays on the debt.
Poland's total debt, which amounts to 12.3 billion euros ($15.6 billion), matures between 2005 and 2009.
(Excerpt) Read more at startribune.com ...
(((PING)))
Ping regarding a great ally.
Poland = a truely great ally.
I wonder when we will be receiving repayment from France, Germany and the rest of Western Europe for us rebuilding their countries through the Marshall Plan. I guess we can be expecting a check from them soon???
Most, if not all, WW2 debts have been "forgiven"..
I have no idea how much money the US actually spent in todays dollars, but it was a bunch..
I think Poland is one of, if not the only european nation to actually pay off a debt to the US...
That puts them very high on my list..
Honor means something..
How about that!
If any country had the right to hold grudges against us, it would be Poland for the way FDR sold them out at Yalta and merely transfered them from the Nazi boot to the Stalinist boot. Yet the Poles send troops to support us in Iraq and repay debt from a former regime for which they are not even legally responsible. The sooner we can move our bases from crapweasel country to Poland, the better.
Yep. Funny how a country like Poland, which spent decades under oppression before finally gaining their freedom, understands the meaning of the words ally and honor. Yet countries like France, which simply rolled over and collaborated when the Germans came knocking (all the while expecting us and the Brits to bail them out), and Germany, whose "economic miracle" was more likely the work of OUR money and military protection, are so self centered and almost completely unwilling to lift a finger to help others in the world if there is even the slightest chance that it will be difficult or uncomfortable. Coincidence? I think not.
You reckon that the Russians are going to compensate the families of those thousands of Polish officers that were liquidated in the woods of Katyn?
I'll be holding my breath waiting for that to happen. Just please wake me up when I pass out.
Nice! Thank you Poland!
I figure it's time for everyone who has ever told a polish joke to repent immediately.
FDR gave Russia so much in "reparations" (including some free islands) that they might, by now, have been able to fund the world if they weren't trying so hard to beat down the US (hand that fed them).
...Germany, whose "economic miracle" was more likely the work of OUR money and military protection,...Military protection? True; if the Soviet Union had invaded, there certainly wouldn't have been any economic miracle. The Marshall plan had little to do with it, however (or when has it become fashionable here to believe that huge government programs are the way to create economic miracles?).
There is an interesting article at cato.org about this, discussing whether a new Marshall plan for Iraq would be a good idea. An excerpt:
It is questionable whether the level of U.S. aid, which never totaled more than 5 percent of GNP of Marshall Plan countries, had a significant financial effect. In West Germany, U.S. policies actually led to a net loss because reparations and Allied occupation costs amounted to 11 to 15 percent of GNP.
Poland is pretty cool.
Ditto that!
You bet it is friend, if you don't believe me then come and see for yourself. :)
As Poland continues to demonstrate the honorable behavior of a great ally to my country, I become more proud to have her blood running in my veins.
I think, when I finally get to visit Europe, that Poland will be my destination. They deserve it.
Regards,
When I say money I mean the money we spent on rebuilding their infrastructure, communications systems, transportation systems, etc. They didn't have to worry about or spend very much of their then worthless money on basic essentials since we just gave it to them. And now we shouldn't be surprised that the cradle to grave entitlement mentality still reigns supreme for them today.
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