John Major was urged to cancel the Soviet Unions vast debts in return for dismantling its massive nuclear arsenal, papers released to the National Archives have revealed.
As the USSR fragmented into its constituent republics in December 1991, the prime minister received a proposal from the newly founded European Bank for Reconstruction and Development (EBRD) to swap debt-relief for weapons.
The letter from Jacques Attali, head of the London-based organisation, arrived in Downing Street as political events in Moscow erupted into an outburst of independence declarations.
Majors first year in office was overshadowed by the disintegration of the former communist superpower and the implications for global stability.
The EBRD letter sugg…
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