Arthur: At the beginning of July they gave themselves a 2 month window (early September) to finally implement the HCL.
All the Maliki and 50 and 100K notes, bonds, credit rating, and security concerns are all external issues to what is directly and vitally needed to implement full blown currency reform in Iraq.
They ABSOLUTELY MUST have a signed, sealed, delivered and fully implemented Hydrocarbon LAW, not tentative agreements to move any further PERIOD.
After all this time people still fail to see the significance of the HCL as it pertains to the MR of Iraq. There is no way to even fully open the budget without it.
It is the HCL that authorizes all the necessary production share agreements (PSAs) which guarantees a profit for all the foreign oil companies then allows for the GOI to distribute remaining revenues fairly throughout the nation on a per capita basis.
It allows Iraq's provinces freedom from the GOI in giving exploration and production contracts which the Kurds and other provinces desperately want and must have since the constitution allows governates to form semi-independent regions, fully controlling their own natural resources.
There has been a call for mass organized unrest up to and including shutting down the airport to the green zone to start in mid Aug with the sole purpose of overthrowing this parliament which would be tantamount to civil war
and it is no coincidence that this show of resistance is scheduled right near the deadline for the Shiites and Sunnis in this parliament to put aside their centuries old sectarian hatreds at least long enough to finally implement this much needed historic law so the world can finally realize a reality rate for the Iraqi dinar.