Sunday, June 12, 2005

Cautious welcome for G8 debt deal

The scariest thing about this story is the lack of any balance. No-one makes the case against writing off Third World debts. Whenever there is no debate, an historical mistake is usually being made. I suggest this is one of those occasions.

Picture yourself this morning as the Finance Minister of the 60th most poor country in the world. You have massive sovereign debts, your army lacks ammunition to suppress revolt against you and your Swiss bank account is not filling as fast as it was. You have just "missed the boat" on debt relief, although "poverty campaigners" (mainly characterised by their poverty of intellect) feel your country should be one of the "at least 62" forgiven its debts.

Is there not some "moral jeopardy" here? Will you not be tempted to impoverish your nation a little further so as to put yourself on the odious Geldof's radar screen?

This money will not go to schools, hospitals and nurses. Gordon Brown knows that perfectly well. He has just given away almost a billion pounds of other people's money to make himself look caring. It is quite disgusting.

BBC NEWS | Business | Cautious welcome for G8 debt deal

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