Bloomberg.com: Europe Western Lenders Split Over Debt Relief for Tsunami-Hit Nations

Bloomberg.com: Europe: "Western Lenders Split Over Debt Relief for Tsunami-Hit Nations
Jan. 12 (Bloomberg) -- The U.S. and Europe are at odds over a U.K. proposal that the Paris Club of creditor nations reduce debts of countries hardest hit by the Dec. 26 tsunami.
Britain, backed by France and Germany, is urging the 19 nations meeting in Paris today to cancel debt of as much as $10 billion owed by Sri Lanka and grant relief on Indonesia's $47.8 billion obligation. The two countries were worst affected by the disaster. The U.S. is concerned the plan may damage credit ratings and funnel money to bureaucracies instead of victims. "