Loud Thinking

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Odious debt or illegitimate debt..!

In international law, odious debt, also known as illegitimate debt, is a legal theory that holds that the national debt incurred by a regime for purposes that do not serve the best interests of the nation, should not be enforceable.

Such debts are, thus, considered by this doctrine to be personal debts of the regime that incurred them and not debts of the state.

In some respects, the concept is analogous to the invalidity of contracts signed under coercion.

Origin

The doctrine was formalized in a 1927 treatise by Alexander Nahum Sack,[1] a Russian émigré legal theorist, based upon 19th-century precedents including Mexico’s repudiation of debts incurred by Emperor Maximilian’s regime, and the denial by the United States of Cuban liability for debts incurred by the Spanish colonial regime.

According to Sack:

When a despotic regime contracts a debt, not for the needs or in the interests of the state, but rather to strengthen itself, to suppress a popular insurrection, etc, this debt is odious for the people of the entire state.

This debt does not bind the nation; it is a debt of the regime, a personal debt contracted by the ruler, and consequently it falls with the demise of the regime.

The reason why these odious debts cannot attach to the territory of the state is that they do not fulfil one of the conditions determining the lawfulness of State debts, namely that State debts must be incurred, and the proceeds used, for the needs and in the interests of the State.

Odious debts, contracted and utilised for purposes which, to the lenders’ knowledge, are contrary to the needs and the interests of the nation, are not binding on the nation – when it succeeds in overthrowing the government that contracted them – unless the debt is within the limits of real advantages that these debts might have afforded.

The lenders have committed a hostile act against the people, they cannot expect a nation which has freed itself of a despotic regime to assume these odious debts, which are the personal debts of the ruler.[2]

“No matter what people tell you, words and ideas can change the world.”

— Robin Williams

“I expect to pass through life but once. If therefore, there be any kindness I can show, or any good thing I can do to any fellow being, let me do it now, and not defer or neglect it, as I shall not pass this way again.”

—William Penn (1644-1718)
Founder Of Pennsylvania, United States

Include Leaders in Your Strategy-Making

Waiting until your strategic plan is perfect before presenting it to a leader for review renders her practically useless. Seek real input, not a pat on the back. Ask your leader early on whether there’s a different way she would frame the strategy problem. Then go back with the possible solutions and ask her if you’re overlooking anything. Return a third time when you have reverse-engineered the possibilities to determine what you believe would and wouldn’t work. See if your leader can come up with other scenarios in which you could test them. Doing this helps you avoid tunnel vision, gets the leader excited about the strategy, and results in a more productive process and outcome.

Adapted from “ Help Leaders Be Less Useless at Strategy” by Roger Martin.

Rats trapped by PAT..!

ZALIMOO IMRAN KHAN AA RAHA HAY

@nayyarahmad:

@ImranKhanPTI @PTIofficial @Asad_Umar

JAHAN ZULM WAHAN IMRAN KHAN GAZA & BURMA U WILL NOW NEVER B ALONE & LEFT OUT IMRAN KHAN IS COMING

@ImranKhanPTI @PTIofficial @KhSaad_Rafique

Khawaja Sb. the decision of PM to meet IK is ONLY 54 days late. I wrote to PM for an immediate meeting with PTI core team on 28 June immediately after Bahawalpur Jalsa on 27 June but he went to SA (with mangoes) & then to Murree.

@nayyarahmad: @ImranKhanPTI @PTIofficial @pat_com_pk @DrTahirQadri

A timid person can b a ruler but he can never b a Sherdil leader like Tipu Sultan..!

Thanks to Allah for giving us NAYA Pakistan again in the month of August.

who is the Tipu Sultan of Pakistan…Imran Khan