British Government Ignores Initiative for Reconstruction of Iraq.

Tony Blair's British government are ignoring an initiative proposed by Escrow finance company Sterling-Bond to pay for the reconstruction of the Iraqi economy.

There is now growing concern in leading government circles in both Britain and America that the financial burden of reconstructing Iraq is far too much for either national government and electorates to bear despite an alternative being available for several months.

Several months ago Sterling-Bond, the UK trade escrow company, put forward a proposal for the reconstruction of Iraq after the Gulf War in 2003 using an Oil Bond issue on the international finance markets as a means to pay for it.

Since their first approaches to the UK government there has been no action to take up the opportunity to relieve the West of the financial burden and offer an efficient means of paying for the cost of reconstructing. After waiting for a response from the UK government the company investigated what had happened to their proposal. Following discussions with key authorities in different British government department they found that none of the leading officials responsible for Iraq in either the Department of Trade and Industry (Dti) or the Department For International Development (DFID) had even heard of the proposal.

In the meantime the situation in Iraq grows increasingly unstable as people complain that there are to enough police, not enough basic utilities and the general feel of the nation remains uneasy.

Although a British company Sterling-Bond are now considering direct approaches to the US government and will await to see if they are interested in the proposals.

Full details of the Oil Bond proposal can be found on the Sterling-Bond web site at: http://www.sterling-bond.com/pr004.htm

Sterling-Bond are an international trader's escrow company offering a unique escrow merchant account service for importers/exporters and other inter-business traders. The company was founded by business consultant Michael Bond as a response to the need of companies for a secure means of financial trade around the world. The company is wholly independent of mainstrem banking and finance to guarantee a neutral authority in overseeing financial exchanges for traders in all transaction.

http://www.sterling-bond.com