The odious iraqui debt
25 September 2003 by Eric Toussaint
On the 10th and 11th of April 2003, the finance ministers of the G8 G8 Group composed of the most powerful countries of the planet: Canada, France, Germany, Italy, Japan, the UK and the USA, with Russia a full member since June 2002. Their heads of state meet annually, usually in June or July. nations assembled in Washington, where the Secretary of State of the US-Treasury, John Snow, demanded that Russia, France and Germany in particular should drop their odious debt towards Iraq. The USA made this demand not because they were interested in seeing the debt dropped, but as a political bargain, as a way of raising the stakes against countries that were opposed to the war. The idea was to find a way to convince France, Germany and Russia to change their position and thereby render legitimate the war. The idea was to make it possible for those who took military action to immediately start with the reconstruction of Iraq by using the oil revenues without having to service debt payments
is a historian and political scientist who completed his Ph.D. at the universities of Paris VIII and Liège, is the spokesperson of the CADTM International, and sits on the Scientific Council of ATTAC France.
He is the author of Debt System (Haymarket books, Chicago, 2019), Bankocracy (2015); The Life and Crimes of an Exemplary Man (2014); Glance in the Rear View Mirror. Neoliberal Ideology From its Origins to the Present, Haymarket books, Chicago, 2012 (see here), etc.
See his bibliography: https://en.wikipedia.org/wiki/%C3%89ric_Toussaint
He co-authored World debt figures 2015 with Pierre Gottiniaux, Daniel Munevar and Antonio Sanabria (2015); and with Damien Millet Debt, the IMF, and the World Bank: Sixty Questions, Sixty Answers, Monthly Review Books, New York, 2010. He was the scientific coordinator of the Greek Truth Commission on Public Debt from April 2015 to November 2015.
Other articles in English by Eric Toussaint (530)
- The Mexican debt crisis and the World Bank
4 August, by Eric Toussaint
- We denounce the renegotiation of the debt by Lenín Moreno’s government
3 August, by Eric Toussaint , Maria Lucia Fattorelli , Alejandro Olmos Gaona , Hugo Arias Palacios , Piedad Mancero , Ricardo Patiño , César Sacoto , Ricardo Ulcuango
- The pandemic has exposed the nakedness of European neoliberalism
27 July, by Eric Toussaint , Miguel Urbán Crespo
- The World Bank saw the debt crisis looming
21 July, by Eric Toussaint
- On the World Economic Crisis
20 July, by Eric Toussaint , Dan La Botz
- United States of America: Socialism for Big Capital and wild capitalism for the poor
10 July, by Eric Toussaint
- Reply to the letter by Philippe, King of the Belgians, about Belgium’s responsibility in the exploitation of the Congolese people
8 July, by Eric Toussaint
- The debt trap
1 July, by Eric Toussaint
- Against the bankocracy: how a socialized banking system could function?
30 June, by Eric Toussaint , Philippe Poutou
- Belgium’s colonial crimes in the Congo. A duty to remember
17 June, by Eric Toussaint
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The Odious Iraqi Debt
12 December 2017 - Eric Toussaint - Operation Corporate Freedom: The IMF and World Bank in Iraq 5 April 2006 - Basav Sen, Hope Chu
- U.S. Forgives Iraq Debt To Clear Way for IMF Reforms 21 December 2004 - Brian Dominick
- World Bank Brings Market Fundamentalism to Iraq 6 November 2004 - Kathy Hoang
- Why is war-torn Iraq giving $190,000 to Toys R Us? 21 October 2004 - Naomi Klein
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We denounce the renegotiation of the debt by Lenín Moreno’s government
3 August - Eric Toussaint, Maria Lucia Fattorelli, Alejandro Olmos Gaona, Hugo Arias Palacios, Piedad Mancero, Ricardo Patiño, César Sacoto, Ricardo Ulcuango -
IMF: if you didn’t like the starter, wait for the main dish
5 July - Amandla -
Should South Africa Follow the Law of the Jungle – or the Doctrine of Odious Debt?
30 April - Patrick Bond -
Debt Against the People: an ABC
29 January - Eric Toussaint -
Haiti 10 years after the earthquake: the fight for social and economic justice continues
13 January - Iolanda Fresnillo
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United States of America: Socialism for Big Capital and wild capitalism for the poor
10 July - Eric Toussaint -
A boot is crushing the neck of American democracy
2 June - Cornel West -
The scarring
4 May - Michael Roberts -
Domination of the United States on the World Bank
2 April - Eric Toussaint -
When the Bernie Sander’s mass movement becomes the establishment’s “worst nightmare”
17 February - Yorgos Mitralias
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