British Initiative?- World Lethargy?

[Norwich]

The British Chancellor Gordan Brown has advocated the cancelling of all debt for the African Nations. Europe has agreed but America and Japan have yet to comment or commit.

Should asll world debt be cancelled and the world start again on an even footing?

 

[rlg94086]

Advocating isn’ t the same as committing. How much of a hit would the UK take? What is the likelihood of approval? Are Torries and Labour behind the idea, or is Brown just trying to drop a crab in Blair’s trousers?

Do you have any numbers? Who owes whom? Is it always a government who is owed money?

For example: US debt to foreign/international sources is approximately $1.7 Trillion. Is that owed to banks or governments? Will that be wiped out, as well?

I think African debt is approx. $300 Billion. Do you know how it breaks out?

Robert.

 

[quijote]

rlg94086:

Who owes whom? Is it always a government who is owed money?

Also to consider, where does the government spend its money? If a government spends most of its money on its military or building palaces for its rulers instead of helping its people I don’t see how to pardon that nation’s debt its really in its best interest.

Cheers

 

[geezerbob]

Maybe just waiting for the Nazi armbands to go away.