Sunday, November 30, 2003

French "Principles"
Ha Ha. But seriously, the WSJ has a piece on French financial activities that suggests they are not really our friends. (As if we didn't know.)

France was not just Baathist Iraq's largest contributor of funds; French banks have financed other odious regimes. They are the No. 1 lenders to Iran and Cuba and past and present U.S. foes such as Somalia, Sudan and Vietnam.

This type of financing is shared by Germany, France's partner. German banks are North Korea's biggest lenders, and Syria's--and Libya's. But France is the most active. In Castro's sizzling gulag, French banks plunked down $549 million in the first trimester this year, a third of all credit to Cuba. The figure for Saddam's Iraq is $415 million. But these pale in comparison with the $2.5 billion that French banks have lent Iran.

Thanks to LGF.

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