France--the banker for the3 axis of evil
Michael Gonzalez, Opinion Journal:
"'Follow the money' is an old adage, and it means that economic interest will eventually explain much human behavior. That France opposed the removal of Saddam Hussein because he owed millions to French banks is proof of this. Less well known, but much more troubling, are key French financial links with other U.S. enemies. They raise the belief that the Franco-American conflict over Iraq was just one slice of the action. For 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. The figures come from the Bank for International Settlements (BIS) in Basel, and were interpreted by Iñigo Moré for a Madrid think-tank, the Real Instituto Elcano. As he says, "one could think that Parisian bankers wait for the U.S. to have an international problem before taking out their checkbooks." French banks seem to be almost anywhere U.S. banks are absent. They lend in 57 such countries, and are the main lenders in 23 of those. (His report can be read at www.realinstitutoelcano.org.) The report offers reasons why Foreign Minister Dominique de Villepin really ought to stop using the phrase "our American friends" every time he talks about the U.S."
Michael Gonzalez, Opinion Journal:
"'Follow the money' is an old adage, and it means that economic interest will eventually explain much human behavior. That France opposed the removal of Saddam Hussein because he owed millions to French banks is proof of this. Less well known, but much more troubling, are key French financial links with other U.S. enemies. They raise the belief that the Franco-American conflict over Iraq was just one slice of the action. For 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. The figures come from the Bank for International Settlements (BIS) in Basel, and were interpreted by Iñigo Moré for a Madrid think-tank, the Real Instituto Elcano. As he says, "one could think that Parisian bankers wait for the U.S. to have an international problem before taking out their checkbooks." French banks seem to be almost anywhere U.S. banks are absent. They lend in 57 such countries, and are the main lenders in 23 of those. (His report can be read at www.realinstitutoelcano.org.) The report offers reasons why Foreign Minister Dominique de Villepin really ought to stop using the phrase "our American friends" every time he talks about the U.S."
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