6-24-13 BGG: IMHO I suspect Iraq (according to various reports) should have an “internationally recognized currency” prior to being removed from CH7 sanctions…I don’t think these current numbers will qualify as “internationally recognized”. 1000:1 just won’t cut it. Which leaves us with several scenarios…
1) Iraq pulls something stupid over the next few days and the world steps back and lets Iraq languish for a few more months (it is possible – not likely, but possible).
2) Iraq does something with their currency and it is “internationally recognized” – followed by a vote on the 27th and Iraq is allowed out of CH7 immediately.
3) Iraq does nothing with their currency, there is a vote on the measure on the 27th…followed by some “administrative benchmarks” and then Iraq is allowed/expelled from CH7 during some “soft timeline” afterwards. Likely over the course of 4-6 weeks(ish) following a vote on the resolution (the 27th). During the course of which they do something with their currency and pay Kuwait (I doubt anyone trusts them to pay up unless CH7 is held over their heads).
The above is JMHO. Nothing more.