International creditors cancel most of Iraq debt News
International creditors cancel most of Iraq debt

[JURIST] Members of the Paris Club agreed Sunday to write-off $31 billion in Iraqi debt. All 19 members of the multinational group of creditor countries, which include France, Germany and the US, agreed to eliminate 80% of Iraq's $39 billion debt over the course of 3 years. 30% of the debt will be eliminated immediately, and the remaining 70% will cancelled by 2008, after Iraq's completion of an special program. Paris Club President Jean-Pierre Jouyet stated, “[the] deal is vital in ensuring Iraqi officials are able to meet the financial demands of reconstruction.” BBC News has more. Read the White House press release on the agreement here.

THIS DAY @ LAW

38 Santee Sioux hanged by US for rebellion

On December 26, 1862, 38 Santee Sioux men were hanged in a mass execution for their roles in a rebellion against US authorities in Minnesota which left hundreds dead and made refugees of some 40,000 white settlers. Government annuities promised under a treaty with the Sioux had failed to arrive on schedule and credit for purchases was not advanced in the meantime, threatening the tribe with starvation. The Santee Sioux Tribe's members were deported first to South Dakota and ultimately to Nebraska, where they remain today. Learn more about the 1862 Minnesota Sioux Rebellion.

Louis XVI put on trial during French Revolution

On December 26, 1792, Romain de Sèze, a defense attorney for deposed King Louis XVI, presented a defense of his client. The former King was on trial before a French Revolutionary court on thirty-three charges, including treason and other crimes against the state. He was convicted on January 15, 1793 executed by guillotine on the following January 21.