THEY SHOULD JUST REPUDIATE IT ALL...:

United Arab Emirates Cancels Iraqi Debt (THE ASSOCIATED PRESS, 7/06/08)

The United Arab Emirates canceled all its Iraqi debt Sunday and moved to restore a full diplomatic mission in Baghdad by naming a new ambassador.

It's part of a recent warming between Iraq's Shiite-led government and its mostly Sunni Muslim neighbors. Washington has pushed Gulf states like the UAE to restore ties with the war-torn country. Jordan named an ambassador last week, and Kuwait and Bahrain say appointments are imminent.

The Emirates' official news agency quoted the country's president Sunday as saying the UAE was canceling all $4 billion in debt owed by Iraq.

...it's odious.

Posted by Orrin Judd at July 6, 2008 11:03 AM