Proto Thema has the article Russia writes off over $20bln debt to African countries.
“We have written off more than $20 billion of African countries’ debts as part of an initiative to help out the world’s poorest and most deeply indebted nations,” President Vladimir Putin told reporters after meeting with his Guinean counterpart Alfa Conde on Thursday.
There go those nasty Russians again. Trying to win over the hearts and minds of people by forgiving their countries’ debts. Why we can’t win their hearts and minds by pushing for austerity for those people seems to remain a mystery to our politicians, Democrats and Republicans alike. If the people don’t like austerity we can offer to overthrow their elected governments for them and introduce our own dictators to help them see the light. What’s not to like about what we offer compared to Russia?
Of course there is always this from my quotes page.
James Galbraith – posted here December 19, 2012 – source
A debt that can’t be paid won’t be paid.