EIN News says, "West Governments Mulls Halting Oil Payments to Libya Italian foreign minister Frattini said five Western governments are discussing the suspension of payments to Libya for oil and gas as part of plan to cut all financial flows to the regime of Col. Moammar Gadhafi. (wsj.com)".
Wow! How innovative! If you are broke, you find some reasons to not pay your bills.
West European governments have been for many years following a socialistic program of entitlements, which has put them on the verge of bankruptcy. They apparently don't have the guts to start cutting back on those entitlements, and would rather pursue a course of defaulting on foreign financial obligations by use of immoral reasoning.
I wonder if the US would be included in "West Governments" and will follow the same immoral course. The handwriting is on the wall to follow that procedure as the UN and the US government support the uprising in Libya as a democratic movement, when in fact it is more likely a Muslim political takeover. In spite of whatever it really is, should the US allow corporations to default on their payments for oil received from Libya?
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