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To: jimkress
How are they going to enforce it? Invade Iraq? +++

They may stop repay Soviet debts if Iraq will not repay thiers.
Russia will benefit from it.
54 posted on 04/12/2003 2:54:20 PM PDT by RusIvan
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To: RusIvan
How are they going to enforce it? Invade Iraq?

Countries repudiate debt from time to time (think Latin America), and there is no use of force, just as you don't get sent to jail any more for refusing to pay personal debts. However, national debt repudiation increases the interest rate on future borrowing since a country can get, in effect, a bad credit rating. Paying the debt or not should be based on Iraqi national interest considerations. I don't care what Iraq decides but hope the US won't pressure for a decision to be made on any basis other than strict economic analysis.

65 posted on 04/12/2003 7:02:44 PM PDT by Steve Eisenberg
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