Former Federal Reserve chairman Alan Greenspan, for years an inscrutable seer on the economy, is causing a stir by alleging in his new memoir that "the Iraq war is largely about oil."
Greenspan, who as head of the US central bank was famous for his tight-lipped reserve, is uncharacteristically direct, also accusing US President George W. Bush of abandoning Republican principles on the economy.
"I'm saddened that it is politically inconvenient to acknowledge what everyone knows -- the Iraq war is largely about oil," he wrote in reported excerpts of The Age of Turbulence: Adventures in a New World, which was to be released yesterday.
He tells his own tale of nearly two decades at the helm of one of the world's most powerful financial institutions, and includes surprising swipes at the Bush administration.
US Secretary of Defense Robert Gates, while explaining his "respect" for Greenspan, rejected the charge that a thirst for crude explained the decision to invade Iraq in March 2003.
"I know the same allegation was made about the Gulf War in 1991, and I just don't believe it's true," he said on Sunday.
"I think that it's really about stability in the Gulf. It's about rogue regimes trying to develop weapons of mass destruction," he said.
Members of the US Congress, who by a broad majority also voted to authorize the use of military force against Iraq, also dismissed Greenspan's assertion.
"I don't believe that 77 United States senators on a broad, bipartisan basis would have authorized the use of force ... if it was only about oil," Republican Senator John Cornyn told CNN.
"This is about our national security and not just about oil," he said.
Greenspan writes that he advised the White House to veto some bills to curb "out-of-control" spending while the Republicans controlled Congress.
According to the Wall Street Journal, he says that Bush's failure to do so "was a major mistake."
Republicans in Congress, he writes, "swapped principle for power. They ended up with neither."
"They deserved to lose" last year's elections when the Democrats retook control of Congress, he adds.
FRAUD ALLEGED: The leader of an opposition alliance made allegations of electoral irregularities and called for a protest in Tirana as European leaders are to meet Albanian Prime Minister Edi Rama’s Socialist Party scored a large victory in parliamentary elections, securing him his fourth term, official results showed late on Tuesday. The Socialist Party won 52.1 percent of the vote on Sunday compared with 34.2 percent for an alliance of opposition parties led by his main rival Sali Berisha, according to results released by the Albanian Central Election Commission. Diaspora votes have yet to be counted, but according to initial results, Rama was also leading there. According to projections, the Socialist Party could have more lawmakers than in 2021 elections. At the time, it won 74 seats in the
EUROPEAN FUTURE? Albanian Prime Minister Edi Rama says only he could secure EU membership, but challenges remain in dealing with corruption and a brain drain Albanian Prime Minister Edi Rama seeks to win an unprecedented fourth term, pledging to finally take the country into the EU and turn it into a hot tourist destination with some help from the Trump family. The artist-turned-politician has been pitching Albania as a trendy coastal destination, which has helped to drive up tourism arrivals to a record 11 million last year. US President Donald Trump’s son-in-law, Jared Kushner, also joined in the rush, pledging to invest US$1.4 billion to turn a largely deserted island into a luxurious getaway. Rama is expected to win another term after yesterday’s vote. The vote would
CANCER: Jose Mujica earned the moniker ‘world’s poorest president’ for giving away much of his salary and living a simple life on his farm, with his wife and dog Tributes poured in on Tuesday from across Latin America following the death of former Uruguayan president Jose “Pepe” Mujica, an ex-guerrilla fighter revered by the left for his humility and progressive politics. He was 89. Mujica, who spent a dozen years behind bars for revolutionary activity, lost his battle against cancer after announcing in January that the disease had spread and he would stop treatment. “With deep sorrow, we announce the passing of our comrade Pepe Mujica. President, activist, guide and leader. We will miss you greatly, old friend,” Uruguayan President Yamandu Orsi wrote on X. “Pepe, eternal,” a cyclist shouted out minutes later,
Myanmar’s junta chief met Chinese President Xi Jinping (習近平) for the first time since seizing power, state media reported yesterday, the highest-level meeting with a key ally for the internationally sanctioned military leader. Senior General Min Aung Hlaing led a military coup in 2021, overthrowing Myanmar’s brief experiment with democracy and plunging the nation into civil war. In the four years since, his armed forces have battled dozens of ethnic armed groups and rebel militias — some with close links to China — opposed to its rule. The conflict has seen Min Aung Hlaing draw condemnation from rights groups and pursued by the
RSS