By David Hoghton-Carter BA (Hons) MA, Research Associate, U K Defence Forum

Imagine this. It is 2058. Some twenty years ago, not long after the formally unified EU fell apart, Britain broke down into a loose federation. The status of some of its smaller regions, particularly the Channel Islands, for centuries under the protection of the British crown, and in a monetary union with the pound sterling, has long been rather uncertain. There had even a bit of a "skirmish" a few years back when Whitehall attempted to impose its authority in respect of their offshore financial status, which resulted in the islands drawing much closer to France. Tensions have been simmering for a while, but with Britain distracted by more pressing internal and external matters - recession, crime, foreign wars, corruption, the usual bag of snakes - the Channel Islands have been low down on the agenda.

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A recent report from the United States Government Accountability Office (GAO) analysing Iraq's revenue and expenditure data and U.S. expenditures in Iraq found the following:

From 2005 through 2007, the Iraqi government generated an estimated $96
billion in cumulative revenues, of which crude oil export sales accounted
for about $90.2 billion, or 94 percent. For 2008, the GAO estimates that Iraq could
generate between $73.5 billion and $86.2 billion in total revenues, of which
oil exports will account for between $66.5 billion to $79.2 billion.

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