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Jun 1 08 2:29 PM

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Launch consolidate peace in Iraq and pursue political, economic and social development over the next five years, will be launched in Egypt this month, Secretary-General Ban Ki-moon said. Speaking to reporters in Bern, Switzerland, during a joint press conference with that country’s President MichelineCalmy-Rey, Mr. Ban said he and Iraqi Prime Minister Nourial-Malikiwould attend the launch in Sharmel-Sheikh on May 3. The launch marks the culmination of a preparatory process that began last July and was initiated by the Iraqi Government to establish a new partnership with the international community. The Compact is a five-year national plan that includes benchmarks and mutual commitments from both Iraq and the international community, all with the aim of helping Iraq NEW YORK —The United Nations-sponsored International Compact for Iraq, which seeks toon the path towards peace, sound governance and economic reconstruction.



I got to get ready to go will help add,

Deuteronomy 6: 5-6

And thou shalt love the LORD thy God with all thine heart, and with all thy soul, and with all thy might.

And these words, which I command thee this day, shall be in thine heart:

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Heart With 2 Wings

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Jun 1 08 2:32 PM



East-West Debt may 2005 news, debt update

80% of Iraq debts forgiven by Paris Club
It has taken less time than expected for the Paris Club to decide what percent-age of the outstanding Iraq debt will be forgiven. The political contradictions between Europe, the United States of America and Russia appeared to have less in?uence in this area than was thought.
Driven by different feelings, the above mentioned major creditors in the Paris Club did not want to have a new foe amongst themselves and felt an urge to show their generosity. The result achieved on November 21st, 2004, is remarkable ; only 20% of the face value of the outstanding debt will have to be repaid by Iraq. It must seem unjust though to a lot of other debtors, like Argentina and several African countries, that a country, full of possibilities to repay a large portion of its outstanding debt, receives preferential treatment whereas they have to negotiate for months every single percentage of forgiveness.
1. General background
The protagonists of the Paris Club all had their reasons for not letting the negotiations drag on for years and to come to a quick deal for the Iraq case, containing a considerable effort from their side. For obvious reasons, the United States presented themselves as the great defender of the Iraq cause. The rhetoric of bringing freedom and democracy to the country could not be upheld without making substantial efforts in the debt field. After the quarrels over the Iraq situation in the period preceding the second Gulf War, many European nations were terrified of starting up a new round of heavy tensions with the big brother from the other side of the ocean. Of course, it was also of big help to suppress discussions with France by promising that Total would not be pushed out of the oil market in post-war Iraq. With two sides already on the same side of the fence, Russia had cilantro choice than to follow suit, however, not before obtaining some additional concessions relating to its own outstanding debt and its current position on the Iraq market.
2. Influence of the decision
However, this decision of the Paris Club is not the end of discussions in respect of the Iraq debt, it is merely the beginning. A lot of creditors think that the decision of the Paris Club settles everything, once and for all. However, this is far from the truth. An agreement in the bosom of the Paris Club is only the big frame setting, the rough borders of the playing field in which the various players can have their “faites vos jeux”. Besides the fact that only a first hurdle in the negotiations has been tackled, the impact of the decision is also limited by the very scope of the Paris Club itself. In first instance, we will take a closer look at the limitations of the decision of the Paris Club. A next chapter will then examine why the declaration of the Paris Club has ultimately an influence in the long term.
2.1. Limitations of the Paris Club
2.1.1. A framework decision to be worked out.
A lot of confusion has emerged among creditors of Iraq. Lots of them tend to think that it is only a matter of time before all Iraq debts will be settled at 20% of the face value and expect this to happen as soon as the newly elected government will be installed. However, this view is far too optimistic. The Paris Club agreement is only a general indicator which will need to be put into practice by bilateral negotiations between Iraq and every single Paris Club creditor country. It goes without saying that these bilateral negotiations and the execution of a reached agreement can take several years and even decades. The Paris Club itself is for the moment referring to 23 years. In the end, the various bilateral agreements can also contain a set of additional requirements for the creditor country which makes the agreed 20% to be far less in reality, due to debt swaps, preferential treatment a.o.Moreover, it depends to be seen for each and every single creditor whether its own government will include or try to include their debt in the bilateral negotiations. And even in case their own government is willing, it is not certain that Iraq will accept. Indeed, the Paris Club has set a range of rules to which the debt in question has to adhere in order to fall within the scope of the Paris Club agreements

"I am the vine, you are the branches. He who abides in Me, and I in him, bears much fruit; for without Me you can do nothing." ~~John 15:5~~

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Heart With 2 Wings

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Jun 1 08 2:33 PM

June 2, 2003
Introduction
The 1980s began with Iraq recognized as being one of the most promising countries in the Middle East and in the developing world. It was a donor country as well as a significant international creditor. The central bank held approximately $36 billion in foreign assets (Jiyad, 2001, p.15). Per capita income was around $4000 and, with a growing middle class and the start of a modern industrial sector, the country was poised for take-off to high-sustained growth. A plausible scenario at the time would have anticipated the country having a Gross Domestic Product (GDP) of close to $400 billion, with a per capita income of $15,000, self sufficient in food, and an exporter of a wide variety of industrial products.

Instead, Iraq sealed its demise in 1980 with its invasion of Iran. Two wars and a decade of sanctions later, GDP is not $400 billion but $30 billion—per capita income is $2000 at best. Industry has ceased to exist and unemployment is optimistically estimated to be around 50%. The agricultural sector is in complete disarray, leaving more than 60% of the population dependent on handouts from the United Nations' Oil-for-Food program. Approximately 40% of the nation's children are suffering from malnutrition. Even before the 2003 conflict, clean drinking water was increasingly scarce, with electricity generation having difficulty meeting the reduced needs of an impoverished nation. There is no banking system and, for the time being, there is not even a national currency. Perhaps even worse, the country's citizens are burdened with massive foreign obligations accrued largely by Saddam Hussein. These include foreign debts, war reparations, and outstanding contractual arrangements.

This Strategic Insight examines Iraq's fiscal challenges and possible financial strategies over the next decade or so. What options are available under UN Resolution 1483 of May 23, 2003, as well as the resolutions coming out of the May 2003 G-8 Finance Ministers' meetings? Which strategies seem best from the perspective of Iraq's reconstruction? Under reasonable assumptions, will there be enough money to reconstruct the economy and revitalize the oil industry?

The Debt Trap


"I am the vine, you are the branches. He who abides in Me, and I in him, bears much fruit; for without Me you can do nothing." ~~John 15:5~~

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Heart With 2 Wings

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Jun 1 08 2:34 PM

Iraq to Receive Debt Forgiveness




Germany's finance minister said Saturday that he and the U.S. Treasury Secretary (search) have reached an agreement under which Iraq's creditors would write off up to 80 percent of Iraq's debt, capping a months-long U.S. push for debt forgiveness.

Finance Minister Hans Eichel (search) said a meeting with Treasury Secretary John Snow "created the basis on which the forgiveness of Iraqi debt can be settled mutually in the Paris Club (search)" of creditor nations, which is owed about $42 billion by Iraq.

"We agreed that there should be a write-off of debts in several stages amounting to 80 percent in total," Eichel told reporters on the sidelines of a meeting of ministers from the Group of 20 major economies.

"Within this framework, the necessary decisions can now be taken in the Paris Club," Eichel said. He did not elaborate and took no questions.

The German-U.S. agreement was being discussed Saturday by the Paris Club and "our expectation is that it will be accepted," said Eichel's spokesman, Joerg Mueller.

(Story continues

"I am the vine, you are the branches. He who abides in Me, and I in him, bears much fruit; for without Me you can do nothing." ~~John 15:5~~

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Heart With 2 Wings

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Jun 1 08 2:34 PM

Forgive the Iraqi Debt



The Bush Administration should formally call upon the European powers (primarily Russia, Germany, and France) and Arab nations (including the Gulf states and Egypt) to forgive the huge debts owed by the Iraqi government. Forgiving these debts would constitute both an historic contribution to the economic development of post-Saddam Iraq and a major gesture of support for the Iraqi people.

The world must heed the lessons learned from the immediate aftermath of the Versailles Treaty of 1919, when France demanded $32 billion in reparations from Germany. This onerous debt burden contributed to Germany's financial collapse in the 1930s and the end of the Weimar Republic, paving the way for the rise of the Nazi Party.

"I am the vine, you are the branches. He who abides in Me, and I in him, bears much fruit; for without Me you can do nothing." ~~John 15:5~~

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Heart With 2 Wings

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Jun 1 08 2:35 PM

45 States cancel $140 billion of Iraq's debts



45 States cancel $140 billion of Iraq's debts
Translated by IRAQdirectory.com - [7/23/2007]


Iraqi Finance Minister, Baqir Jabr Al-Zubaidi, said that 45 States abolished their claims on Iraq, at rates ranging between 100 and 80%, with the total amounting to $140,000,000,000.

Al-Zubaidi praised Saudi Arabia, which promised to write off 80% of its claims on Iraq, as well as China which declared its commitment to the rules of "Paris Club" and wrote off 80% of its claims as well. The Iraqi minister said in a joint press conference held with the Ministers of Planning and Trade, Ali Baban and Abdul Falah Al-Sudani, as well as the Central Bank Governor Sinan Al-Shabibi, that the government has acted on the commercial debt of the companies, and cut them by 96%. Baban announced more than $11 billion of new government investment, the largest in Iraq so far, which should provide more jobs and enhance the economy. Al-Shabibi said that the current year witnessed relatively stable inflation of between 40 and 45%, pointing to the bank's success in increasing hard currency reserves to $21 billion.

"I am the vine, you are the branches. He who abides in Me, and I in him, bears much fruit; for without Me you can do nothing." ~~John 15:5~~

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Heart With 2 Wings

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Jun 1 08 2:36 PM

Jubilee Iraq, founded by Iraqis and citizens in creditor countries, calls for:
* Immediate and unconditional cancellation of all odious debt and reparations.
* Disputes settled through a fair arbitration tribunal, representive of Iraqi views.
* We have no other agenda, which is why people of opposing political views support us.


May 29, 2008
Jubilee Iraq backs Maliki's appeal to Arab creditors at UN conference ^top^

Prime Minister Maliki is in Sweden, along with UN Secretary General Ban Ki-Moon and representatives of almost 100 countries for the first annual review of the UN-sponsored International Compact with Iraq. Speaking as he arrived in Stockholm, Mr. Maliki told reporters: "Iraq is demanding world countries to re-open embassies and to cancel debts." Finance Minister Bayan Jabr added that the demand was particularly aimed at Arab countries. Later Maliki told the conference: "Iraq is not a poor country. It possesses tremendous human and material resources, but the debts of Iraq ... which we inherited from the dictator, hamper the reconstruction process. We are looking forward to the brother countries writing off the debts, which are a burden on the Iraqi government."

Jubilee Iraq backs this request from the Iraqi government. It is now over five years since the regime which contracted this odious debt in the 1980s fell. The Iraqi people should no be held responsible for it. Moreover, Iraq's situation is still extremely fragile, and it has more chance of an economic recovery which will reduce violence if the debt burden is finally written off. A stable Iraq is in the interests of all countries in the region, and that alone should be sufficient reason for them to write of these debts.

It looks strange from outside the region that while countries as far from Iraq as Canada and Japan have significantly reduced their debt claims (by 80% under the terms of the November 2004 Paris Club agreement), Iraq's Arab neighbours have not yet forgiven a single Dirham. It is understandable that they have been cautious, given concerns over the US-led invasion and worries that the chaos in Iraq might spread. But now is the time for them to show true brotherhood and generosity by exceeding the terms of the Paris Club and writing off all Saddam-era debts - and also reparation claims.

April 28, 2008
Latest Jubilee Iraq paper ^top^

A paper on Iraq's debt will be published shortly by Cambridge University Press in the book: Odious Debt in International Law & Policy. Here is a draft which includes our most up-to-date estimates of Iraq's burden.


March 06, 2008
Iraq offers commerical creditors a last chance at restructuring ^top^

On 30 January 2008 Iraq announced its intention to reopen the debt restructuring program for the reconciliation and settlement of outstanding commercial claims, which had been closed in July 2006 after restructuring $19.7bn. Debt advisory firm Omni Bridgeway comments:"Although the registration date as set originally during the first reconciliation period was extended several times, we have reasons to believe the deadline of 15 March 2008 will not be extended. The Republic of Iraq seems to have set its mind on restructuring all remaining claims in 2008."

"I am the vine, you are the branches. He who abides in Me, and I in him, bears much fruit; for without Me you can do nothing." ~~John 15:5~~

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Heart With 2 Wings

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Jun 1 08 2:36 PM



Subject: Rebuilding Iraq
Rebuilding Iraq is a U.S. national security priority. As part of this effort, Congress
appropriated $79 billon in emergency supplemental funds for fiscal year 2003 for military
operations and Iraq’s reconstruction, including humanitarian relief, peacekeeping, and
economic and political reform. We have issued reports on similar programs to rebuild
countries in the former Yugoslavia, the former Soviet Union, and other locations (see
attachment III for a listing of previous GAO reports). Based on this work, we have
developed short papers to help congressional decision-makers think about and prioritize
the range of issues related to rebuilding Iraq. These papers cover the following topics.
Food Aid and Humanitarian Relief
The conflict in Iraq has compromised the country’s food security and its medical and
water systems. In response, the World Food Program has developed an emergency plan
to meet the food needs of 27 million Iraqis, at a cost of $1.2 billion, from March 25 to
September 25, 2003. Other donors, including the United States, are providing medicine
and potable water to many locations. In addition, as many as 1 million Arabs may be
displaced in Northern Iraq by Kurds, who are retaking the homes and villages they were
expelled from over the last three decades. Potential issues are the total cost of food and
humanitarian aid, coordination and effectiveness of humanitarian aid, the transition from
emergency aid to sustainable living, and efforts to provide for the internally displaced.
Peace Operations
The peace operation in Iraq presents significant security and political challenges for the
United States. Some tasks for the peacekeeping phase are providing security,

"I am the vine, you are the branches. He who abides in Me, and I in him, bears much fruit; for without Me you can do nothing." ~~John 15:5~~

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Heart With 2 Wings

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#9 [url]

Jun 1 08 2:38 PM

This report is submitted consistent with section 1227 of the National Defense Authorization Act for Fiscal Year 2006 (Public Law 109-163) concerning United States Policy in Iraq. The Report covers current military, diplomatic, political, and economic measures that are being or have been undertaken to complete our mission in Iraq successfully. The Report is organized into the following areas: (1) current mission and measures taken to support it; (2) Iraqi progress towards a sustainable political settlement; (3) conditions necessary for a transfer of security responsibility; (4) Iraqi Security Forces capacity and readiness, which contribute to the transfer of security responsibility; (5) criteria used to evaluate progress in that area; and (6) our plan for successfully completing the mission.

"I am the vine, you are the branches. He who abides in Me, and I in him, bears much fruit; for without Me you can do nothing." ~~John 15:5~~

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Heart With 2 Wings

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Jun 1 08 2:44 PM



Baghdad may seek debt relief from Arab countries at an international conference on Thursday to discuss progress on a plan for Iraq's reconstruction.

Iraq, which co-chairs with the United Nations a review of a strategy adopted in Egypt a year ago, is also seeking technical support and more engagement from Sunni-led Arab countries.

Here are some details on Iraqi debt:

* Over the past three years, about $66.5 billion of Iraq's overall $120.2 billion foreign debt has been forgiven. With the participation of all members, the Paris Club cancelled $42.3 billion, including Russia's $12 billion.

The Paris Club is an informal group of official creditors whose role is to help debtor nations manage their debts.

* A number of non-Paris Club members have cancelled a total of $8.2 billion, on Paris Club terms. A total of $16 billion has been cancelled by commercial creditors, also on Paris Club terms.

"I am the vine, you are the branches. He who abides in Me, and I in him, bears much fruit; for without Me you can do nothing." ~~John 15:5~~

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Heart With 2 Wings

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Jun 1 08 2:53 PM



French Foreign Minister Bernard Kouchner is in Iraq to offer help in rebuilding the country and promoting national reconciliation.

Mr Kouchner, whose visit began in the southern city of Nasiriya, is holding talks with senior officials.

France was one of the fiercest critics of the 2003 US-led invasion, and this is Mr Kouchner's second visit to Iraq in less than a year.

"I am the vine, you are the branches. He who abides in Me, and I in him, bears much fruit; for without Me you can do nothing." ~~John 15:5~~

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Heart With 2 Wings

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Jun 1 08 2:56 PM

Lingering outside the ice-cream shop

For a reporter last here a year ago, during perhaps the deepest of Iraq's despair, there is a palpable change: visible in such mundane things as sidewalk rebuilding projects and people lingering outside a favorite ice-cream shop, audible in the tone of families returning to neighborhoods they'd fled in fear.

Iraq is a different place now: The grip of horrendous daily violence has loosened; the government is showing some signs of being one. And Iraqis – once among the best educated, best fed, and most widely traveled people in the region, practitioners of a river- and desert-fashioned joy of living – dare to hope.

"Here we can taste again the flavor of life," says Rawaa Fadhel, on his second visit in as many weeks to Abu Nawas Park with his fiancée. "For three or four years, we have stayed in our houses and lived with this pressure," says the employee of a Pepsi bottling plant. "When I go back to my neighborhood, I will feel like my hands are tied again. But six months ago, we didn't even have this," he says of the park, "so it's a sign of progress."

"I am the vine, you are the branches. He who abides in Me, and I in him, bears much fruit; for without Me you can do nothing." ~~John 15:5~~

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Heart With 2 Wings

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Jun 1 08 2:58 PM

The troops have been training for nearly a year to tackle the full mix of work they'll see in Iraq from rebuilding towns to fighting insurgent groups.

The Army's emphasis in Iraq this year is to stiffen government troops while overseeing rebuilding work in major cities including Baghdad and Mosul.


"I am the vine, you are the branches. He who abides in Me, and I in him, bears much fruit; for without Me you can do nothing." ~~John 15:5~~

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Jun 1 08 5:56 PM



Turkish PM Announces Plan to Revitalize Kurdish Region

Call to Me and I will answer you, and I will tell you great and mighty things, which you do not know.
Jeremiah 33:3


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#17 [url]

Jun 1 08 5:57 PM

Turkish Prime Minister Recep Tayyip Erdogan has unveiled the details of an ambitious $12 billion plan to re-vitalize the country's predominantly Kurdish southeast. The region has been hit hard by more than 20 years of war between the Turkish state and Kurdish insurgents of the Kurdistan Workers Party (PKK). The economic plan is seen as a key part of the government's strategy to defeat the insurgency. For VOA, Dorian Jones in Istanbul has this report.

Call to Me and I will answer you, and I will tell you great and mighty things, which you do not know.
Jeremiah 33:3


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#19 [url]

Jun 1 08 6:41 PM

Yep, turkey has their hands in many biblical aspects.

Deuteronomy 6: 5-6

And thou shalt love the LORD thy God with all thine heart, and with all thy soul, and with all thy might.

And these words, which I command thee this day, shall be in thine heart:

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Heart With 2 Wings

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Jun 3 08 1:26 PM

The Minister of Foreign Affairs believes that the time has come for French companies to return to Iraq



It is at least one heat of 45 degrees in this huge tent erected along the river Gharrâf between Tigre and Euphrates, in the marsh area once drained by Saddam Hussein, against the wishes of the people. Politiciens et hauts fonctionnaires, universitaires et grands médecins, religieux enturbannés et chefs de tribu en keffieh, tous les notables de la province de Dhî Qâr, cœur de la Mésopotamie chiite, ont été conviés à ce grand banquet, donné en l'honneur du ministre des Affaires étrangères de la République française, par le vice-président de la République d'Irak. Politicians and senior officials, academics and doctors, enturbannés religious and tribal leaders in keffiyeh, all the notables of the province Dhî Qâr, heart of the Shiite Mesopotamia, were invited to this grand banquet given in honour of Minister of Foreign Affairs of the French Republic, the Vice-President of the Republic of Iraq. Adel Abdel-Mehdi, l'enfant du pays de loin le plus éminent, a tenu à recevoir Bernard Kouchner dans sa maison de famille, bâtie par son père, qui fut député au premier Parlement de 1932, puis ministre du roi. Adel Abdel-Mehdi, the culinary of the country by far the most prominent, held to receive Bernard Kouchner in his family house, built by his father, who was deputy to the first Parliament of 1932, then minister of the king. Parfaitement francophone, diplomate de formation, Adel aime la France, qui l'a recueilli en 1969, après que le gouvernement de Saddam Hussein l'eut condamné à mort. Perfectly French diplomat training, Adel loves France, which has collected in 1969, after the government of Saddam Hussein was sentenced to the death. C'est un chiite modéré, vénérant l'ayatollah Sistani, qui prône la séparation entre l'État et la religion, au contraire du velayat-e-faqi (gouvernement des clercs) de l'actuel régime iranien. It is a moderate Shiite, venerating Ayatollah Sistani, who advocates the separation between state and religion, unlike the velayat-e-faqi (government clerics) of the current Iranian regime.

A l'évidence, le courant passe parfaitement entre Abdel-Mehdi et Kouchner, qui ont tous les deux tombé la veste pour piocher allègrement dans le traditionnel uzi, grand plat d'agneau rôti, de riz, de raisins secs et d'épices. A Clearly, the current passes perfectly between Abdel-Mehdi and Kouchner, who have both dropped the jacket to draw blithely in the traditional uzi, big plate of roast lamb, rice, raisins and spices. Le dignitaire irakien a bien fait les choses. The Iraqi dignitary has done things. A son arrivée dans la villa familiale, Kouchner a été accueilli par un vieux poète, dont le compliment en arabe disait notamment : «Dans ma vie, j'ai reçu beaucoup de blessures ; aucune n'est venue de France.» Upon his arrival in the family villa, Kouchner was greeted by an old poet, whose compliment in Arabic said: "In my life, I received a lot of injuries, none is from France."

"I am the vine, you are the branches. He who abides in Me, and I in him, bears much fruit; for without Me you can do nothing." ~~John 15:5~~

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