Saturday, December 30, 2006

UK repays debt to Canada, US

An item in yesterday's International Herald Tribune served as a reminder that a debt, no matter large or small, must be eventually repaid in some manner. The news was that the UK made its final installment on the post- World War II loans for reconstruction, money borrowed from the United States and Canada. The amount: $100 million US.

I mentioned a little while back Jim Flaherty wants to get rid of the "net debt" rather than actually pay it off in full. Kind of like the Brits just paying the interest on the debt from the Napoleonic Wars than just putting it to rest as well ... because apparently the interest is cheaper than the redemption costs. At least, though, Westminster gets it.

When this is all I find worthy to comment on other than last night's execution of Saddam Hussein, it tells you the kind of day it's been.

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audacious said...

good to remind us, via your post!

kurichina said...

Perhaps they can now pay off some debt to Africa and the Americas for the resources stolen during the colonial era...