hisah wrote:Zimbabwe sues EU over ‘sanctions losses’ -
http://www.bdlive.co.za/...u-over-sanctions-losses
Quote:THE Zimbabwean government is suing the European Union (EU) for losses to its economy arising from the bloc’s sanctions on President Robert Mugabe and members of his government.
Its lawsuit has now come before the General Court of the European Court of Justice in Brussels, Belgium. Zimbabwe’s government expects it to announce a date for the case to be heard, once it comes up on the court roster, a top government official has said.
The lawsuit by the Zimbabwean government lays bare any pretence of a thaw in relations between Mr Mugabe’s newly re-elected administration and the EU and is widely seen by observers as a final push by Mr Mugabe to end his isolation by the West.
Attorney-general Johannes Tomana, who is spearheading the legal challenge, said in an interview the announcement of a date by the European court would set in motion Zimbabwe’s case.
Although unwilling to discuss the finer details of the lawsuit, it is understood it is the government’s contention that sanctions imposed by the EU since 2001 have cost the country $42bn in lost revenue.
^If wishes were horses, Zim winning this case ASAP would resolve the USD11B debt overhang owed mostly to the Euro-bankers, overturning the "who owes who" status quo. (since 2003)
Since that will take time, Zim is on the IMF SMP (Staff Monitored Program) ending Dec 2013. Thereafter, expected to see the overhang resolved and fresh multilateral funding unlocked.
Meanwhile...THE top leadership of the Antwerp World Diamond Council arrived in Harare yesterday to map out modalities for the trade of gems from Chiadzwa on the international scene, following the lifting of sanctions on the Zimbabwe Mining Development Corporation and its subsidiaries.
http://www.herald.co.zw/...bosses-jet-in-for-trade/