Saturday, May 12, 2007

It's over, again?

Via commenter David at China Matters:

U.S. bank helps clear hurdle to shut reactor
The Bush administration has found a U.S. bank willing to accept $25 million in North Korean funds, and officials hope the transfer -- the final hurdle to the closure of the North's main nuclear reactor -- can take place in the next few days, The Washington Times has learned.
No word yet about who the bank is:
U.S. officials did not identify the American bank, although they suggested that it is not one of the bigger and more recognizable institutions.
To resolve this problem that is rooted in conflicting US policies, it evidently took a sit down between SoS Rice and Treasury Secretary Paulson:
The highly unusual decision to let North Korean money labeled by the Treasury as "dirty" be deposited in a U.S. bank -- entailing full access to the international financial system -- was made by Secretary of State Condoleezza Rice and Treasury Secretary Henry M. Paulson Jr., officials said.
US negotiator Christopher Hill is upbeat:
"This time, I think we really do have something," he said.
Hill's optimism could be looked at with some skepticism, as he's maintained that the little problem was about to be solved in a day or two for the last two months.

Will this really be the end of this saga? It's interesting that this scoop is from the Washington Times, read and believed by all good neo-cons, and with an owner that has a lot of interest in matters Korean.


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