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Kerry Proposes $4 Billion Bailout of Palestinian Authority

Posted By Daniel Greenfield On May 27, 2013 @ 10:57 am In The Point | 11 Comments

President Abbas hasn’t held an election in forever and just forced out Prime Minister Salam Fayyad who was supposed to bring some accountability to the corrupt kleptocracy of the Palestinian Authority. So naturally Secretary of State John Kerry is rewarding him with a proposed 4 billion dollar bailout.

US Secretary of State John Kerry unveiled on Sunday a $4 billion economic plan to revitalize the Palestinian economy, as he called on Israelis and Palestinians to forgive past wrongs and return to the negotiating table.

“The plan for the Palestinian economy is bigger and bolder and more ambitious than anything proposed since Oslo more than 20 years ago,” said Kerry as he spoke at the closing session of the World Economic Forum by the Dead Sea in Jordan.

Quartet special envoy Tony Blair will head the initiative, with the help of the international business community.

According to Kerry, it will focus on developing the Palestinian private economy, a key ingredient for economic independence. If actualized, he said, it could increase the Palestinian GDP by 50 percent over three years and cut unemployment by two-thirds, to 8% down from 21%. It would also benefit the economies of Israel and Jordan, Kerry said.

To get a full grasp of the ridiculousness of this plan. It’s planning to take an area run by two warring terrorist groups and bring its unemployment rate in line with the US and EU… in three years.

Saudi Arabia has an 11 percent unemployment rate and it swims in oil. As does Iran. Neighboring Jordan has a 12 percent unemployment rate.

Kerry is proposing to give the Palestinian Authority a lower unemployment rate than France. In three years, This isn’t just snake oil, it’s magic beans. And overseeing it will be Tony Blair, who just happens to be Qatar’s new best friend. And Qatar is a big backer of Hamas.

Where is this 4 billion supposed to come from? That’s an open question. A fellow named Tim Collins, who is tied in with Tony Blair, was in attendance there.

So far Blair is talking about tripling agriculture yield and building 100,000 homes. Presumably the latter is where the jobs will temporarily come from. And some businesses are expected to want to toss 4 billion in the trash to finance all of it.


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