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218 Comments
- egthareal, on 07/07/2008, -6/+161Hello American Express? Yes, did you just hear what dubai did for Iraq? Well... lets just say my middle name is Iraq.
- czeman, on 07/07/2008, -9/+105If only our (USA) debts would get cancelled.
- lucy22, on 07/06/2008, -2/+95That is very magnanimous of him.
- blanketfury, on 07/07/2008, -5/+92We prefer to take it by force.
It's a lot more magnanimous that way. - antonio97b, on 07/07/2008, -1/+66Iraq must have called a good debt consolidation comapny.
- pintomp3, on 07/07/2008, -2/+54it wasn't a dollar amount, it was 20 million barrels:
http://news.bbc.co.uk/2/hi/middle_east/4218986.stm - flink405, on 07/07/2008, -10/+62Really? $1 Trillion worth of Oil for a Hurricane?
Do you realize how much 1 Trillion dollars is?
Can you please cite a legitimate news source for your statement? - Steinr, on 07/07/2008, -7/+56I think it is awesome how the UAE is treating other nations in need. And this just shows that they are thinking for people and not just for money.
It is like giving Iran aid in its difficult time of being occupied by a hostile nation. - noots, on 07/07/2008, -5/+52so you can get into debt again? not that your current debt has any effect on your budgets/spending.
- thcobbs, on 07/07/2008, -5/+47@hmunkey
/me rubs eyes
You mean like this:
"U.S. cancels Iraq's $4.1 billion deb"
http://www.cnn.com/2004/WORLD/meast/12/17/iraq.mai ...
Oh, and that was four years ago.
Hmunkey... thank you for proving that on digg... the USA can never do the right thing. - benologist, on 07/07/2008, -3/+44So what? The rich don't have any obligation to help the poor, it's great when they do, especially when the help is "billions".
- jonnyeuchre, on 07/07/2008, -6/+47
In other news, UAE pays $7B for drilling rights in Iraq. - cph1, on 07/07/2008, -2/+407 billion?
thats what America spends on 2 weeks in Iraq... - altgeeky1, on 07/07/2008, -5/+37That's different: Iraq's debts were accumulated by a megalomaniac tyrant.
Oh. Never mind. - AboveandBeyond, on 07/07/2008, -48/+75Iran gave america $1 trillion worth of oil for katrina but america refused.
- 55mph, on 07/07/2008, -1/+27Are you really this naive? Follow the money.
The UAE is on the verge of becoming the middle east's base of operations for a dozen of our largest oil and ammunition's manufacturers.
HAL will lead the way seconds after Cheney leaves office. - noots, on 07/07/2008, -4/+29well considering the US is piling up 10billion dollars of debt per week, i think it's a little different.
- mohsenxp, on 07/07/2008, -1/+2555mph does have a point. No where in politics are things as straight forward as "We'll be nice and forgive this debt".
- Loonacy, on 07/07/2008, -1/+25Did you not notice the very first comment? Or do you just not know the meaning of the word "magnanimous"?
- Displace, on 07/07/2008, -0/+2220 million barrels of crude are not worth $1 trillion
http://news.bbc.co.uk/2/hi/middle_east/4218986.stm
http://www.bloomberg.com/energy/ - hmunkey, on 07/07/2008, -0/+23So they just gave away 7 months of profits? That's pretty ***** amazing.
- AbsurdParadox, on 07/07/2008, -3/+26Considering the fact that the government that racked up that debt no longer exists, I would say this is simply a PR move... unless you believe that one group of people is responsible for another group of people's financial decisions.
- duffy89, on 07/07/2008, -2/+22They can afford it.
- inactive, on 07/07/2008, -1/+21I didn't see any other countries wiping out debt for countries having a hard time of things.
That somebody has wiped out such a large debt is a good thing at any rate. - warsongs7, on 07/07/2008, -3/+21Dugg for magnanimous.
- overt, on 07/07/2008, -2/+17They're spending 70 billion dollars on a freaking amusement park. What's another 7 billion?
- allengeer, on 07/07/2008, -0/+14The UAE needs a peaceful middle eastern region to maintain their success. Forgiving the debt of Iraq is a step in the peaceful, cooperative direction.
- ImadtheApplefan, on 07/07/2008, -2/+14On a war the US started. They're not spending those 2B building roads or schools, they're spending money on the bombs that destroy 'em.
- blackjack75, on 07/07/2008, -6/+17Nice action from the UAE, but isn't Iraq supposed to be able to clear that debt rather fast? They're supposed to be producing a fifth of the world's oil. I assume at today's prices it won't be long before they can repay back. Unless for some reason Iraq's economy is hindered by some foreign force?
- inactive, on 07/07/2008, -0/+10True. Iraq does seem to finally be on the right track. But it's going to be a long journey. Too bad all the other countries in their neighborhood (like Iran and Syria) aren't as helpful as UAE.
- birch25, on 07/07/2008, -0/+10ya, closer to $2.6-3.0 billion by recent prices
- thcobbs, on 07/07/2008, -0/+9How was I not honest? The debt was forgiven. Although I will admit that there are reasons I didn't know. That doesn't make me dishonest.
And the UAE forgave the debt at the behest of the USA. Regardless, of the reasons, that's $12B in debt that has been canceled for Iraq. A major help in rebuilding the economy and country. - aflaks, on 07/07/2008, -1/+10whats in your wallet
- wilhoitm, on 07/07/2008, -1/+10We are talking Trillions, even the Arabs may not have that much money.
- Egoist, on 07/07/2008, -0/+9Oh goodness, since a Digger informed us of the news by "The news correspondent in Baghdad," (TNCB) it must be true! TNCB is such a reliable source because it's not just any journalist, but *the* news correspondent!
If the US controlled Iraq's oil, why haven't all of the contracts already been given out to US oil companies? There is STILL not a single US company with drilling rights in Iraq. - allengeer, on 07/07/2008, -1/+10and a "seven star" hotel,
and one of the tallest (if not the) buildings in the world,
and a building where each floor rotates independently,
and a complete indoor ski slope in the middle of the desert,
and . . . - fx666, on 07/07/2008, -3/+11This is a very good decision. Now Irag could rebuild itself at a much faster pace.
- AbsurdParadox, on 07/07/2008, -0/+8Its hard to say, about the Republicans and Democrats in power, since they may be agreeing to pay such debt when they are elected.
As for the Germans and Japanese - exactly. What you are guilty of, my friend, is collectivism. You're assuming that these groups of people are entities themselves, when they simply are not. "The Germans" or "The Japanese" are simply groups of individuals, and only individuals can be held accountable for ANY action. - Ravatar, on 07/07/2008, -0/+8@hmunkey: You do realize per capita, the UAE has more purchasing power than US... right? They're also positioning themselves to become an economic superpower in the very near future.
- Jackosx, on 07/07/2008, -3/+11I can't wait until they turn this place into a tourist destination!
- saigumi, on 07/07/2008, -1/+9I'm not sure you know what you are talking about. The US has forgiven a LOT of debt. Look at the whole repirations from the end of WW2 and how much the US wrote off and said "forget about it".
- JibberGeorge, on 07/07/2008, -5/+12CORRECT NEWS TITLE ----
The UAE Just Bought Iraq for $7B. - element1ne, on 07/07/2008, -2/+9Look at your shirt tag and you'll know.
- inactive, on 07/07/2008, -0/+7The UAE nets more like $10B per month from oil so $7B is more like 3 weeks of profits, not 7 months.
- zyklon, on 07/07/2008, -1/+8"What's another 7 billion?"
Pocket change? - NateTheApe21, on 07/07/2008, -3/+107B that is walking around money for them
- ladon86, on 07/07/2008, -0/+7Congratulations, you are now a terror suspect. Your phone will be tapped, and your credit card bill forwarded to the NSA. Have a nice day sir!
- DesignNerd, on 07/07/2008, -1/+8actually, the UAE makes most of their money from the Free Trade Zone located in Dubai, not from oil.
- Spuy767, on 07/07/2008, -10/+17I know! That's got to be close to what they make off of oil in 12 minutes.
- uptwolait, on 07/07/2008, -4/+10This is very, VERY good news. The UAE is the only hope of bringing stability into the region, since they have the money, the "correct" religion (for that region), and behave nicely in the capitalistic world business system. The US needs to stay cozy with them as we slowly get out of bed with Iraq and take the walk of shame back home.
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