Let us stipulate some ugly facts up front. Iraq remains a weak state. The political institutions are—charitably—immature. The business climate is not overly attractive and corruption is endemic. Were it not for oil, there would be no real economy. There is a serious terrorism problem. Relationships with all the neighboring states are problematic. Sectarian divides remain tense, with some key fault lines unresolved. The country’s armed forces remain incapable of defending its international borders.