Iraqi Kurdistan's Financial Trap

The Kurdistan Regional Government's recent stream of announcements make it appear that Iraqi Kurdistan, now endowed with the prize of Kirkuk oil, is on the verge of political and economic independence. But behind the Kurdish hubris is a government in an increasingly desperate financial situation, with only its old adversary Turkey to rely on for its survival. This situation will create deeper divisions among Iraq's Kurdish factions, providing neighboring Iran with an opportunity to counter Turkey's moves in Iraqi Kurdistan.