Libya: Arms, ethics and the EU
As the body count mounts in Libya and the EU and allies apply diplomatic pressure to force Gaddafi to stand down. The stark reality is that EU member states have been racing to arm Gaddafi since an arms embargo was lifted in 2004. Italy leads the way with a total of 276.7 million euros worth of export licences granted followed by France, the United Kingdom and Germany. That is close to 690 million euros worth of licences between the four nations between 2005 and 2009. Italy, France and Portugal granted permits for military aircraft and associated equipment, while Belgium sold licences for anti-personal chemicals used to break up protests. Human rights organisations estimate close to 6,000 people have been killed since the start of the Libyan uprising and according to the German arms control NGO Bits, the brutal reality is business, economic and political interests override ethical standards in many cases. Copyright © 2011 euronews

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More protests in Bahrain
There have been more clashes between police and protesters in Bahrain. Hundreds of people camped out overnight in the Gulf state’s capital, Manama, to press their demands for political reform. Two protesters and one police officer have already died in the unrest, which has gathered momentum since Monday. The King of Bahrain made a rare televised speech during which he apologised for the deaths. Bahrain is a close partner of the US and is home to the American Navy’s Fifth Fleet. The funeral will be held today of a man killed by police yesterday. He died when police clashed with protesters at the funeral of another demonstrator killed on Monday. Thousands of people from Bahrain’s majority Shi’ite community have been inspired by the uprisings in Tunisia and Egypt. They claim the governing Sunni minority shuts them out of housing, healthcare and employment. Copyright © 2011 euronews

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Libyan opposition: Gaddafi must go
The protests in Libya are particularly striking. Not only is dissent almost unheard of – as in many other Arab nations – but the country’s identity is firmly intertwined with its charismatic and unpredictable leader Muammar Gaddafi. He claims Libya is run by the people via a network of committees. But many observers see a police state, with the colonel firmly in charge. How widespread is opposition to Gaddafi’s rule? What do the protesters want? Euronews spoke to a leading opposition figure in exile. Dr Hadi Shelluf is also a lawyer with the International Court of Justice. Sami Fradi, euronews: What is happening at the moment in Libya? Dr Hadi Shelluf, in Paris: There is a popular uprising spreading throughout Libya, especially in the east, west and south, it’s a big popular uprising. And in all the country’s regions there is a general rejection of Gaddafi’s regime and a popular demand for Gaddafi to step down. euronews: Are the demonstrations organised by anyone either within the country or from outside? Dr Hadi Shelluf: There is certainly no internal or external group driving this uprising. It’s a popular uprising whose source is among Libyan youth and the people, who’ve discovered after 42 years that this regime is not only a dictatorship but also a regime which has squandered the country’s wealth. Some are demanding that those in charge of the regime be brought to justice for the crimes they have committed, and that money that’s been stolen be returned. euronews: Is there a tribal conflict between those for and against (the regime) – or is this a civilian rebellion? Dr Hadi Shelluf: There is no conflict between either tribes or clans. There is a popular uprising and a revolution, and not a rebellion – in order to create a legal state and democratic institutions. We demand that a government of transition be formed as soon as the administration falls, and then for a commission to draw up a constitution, so that we move from a chaotic situation to a state with a rule of law and democratic institutions. euronews: How do you see the protests developing? Dr Hadi Shelluf: These protests are going to continue until the regime is toppled in Libya and all the accomplices of the Libyan regime are arrested. We will demand that they be judged according to the law. We ask the European Union and the United States to urge Gaddafi to go. We want a constitution and elections which will be supervised by the international community. euronews: Thank you Dr Hadi. Copyright © 2011 euronews

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Egypt starts on the road to change
It was out with the old as officials removed the portrait of Hosni Mubarak, but building the new Egypt is going to take some time and it is still not clear what form of new government will emerge. The caretaker cabinet has many of the old faces but just two days after ousting Hosni Mubarak the army announced that parliament was being dissolved and the constitution suspended. But as always there are other short term priorities according to Egyptian Prime Minister Ahmed Shafiq: “Our goal at this current time is security and maintaining it for the Egyptian citizen. The feeling of security that was lost in the period since the beginning of the movement must be brought to an end.” Political reaction from Egypt’s disparate opposition is finally being voiced. Ayman Nour who challenged Hosni Mubarak for the presidency five years ago, described the military leadership’s steps as a victory for the revolution. But one casualty in all the unrest has been Cairo’s Egyptian Museum. Some time during the height of the protests at least 18 priceless artefacts disappeared including a statue of Tutankhamen. Copyright © 2011 euronews

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Missiles rain down on Libya
The night sky over the Mediterranean coast of Libya lit up on Saturday night as operation Odyssey Dawn got into gear. 110 cruise missiles were fired as part of the military response from the USA, Britain and other European nations. TO READ – Libya: a timeline of international diplomacy Air strikes also took place, with the French firing the first missiles around Benghazi in the east. In Tripoli some people took to the streets amidst heavy anti-aircraft fire A Pentagon military spokesman gave details of the intentions of the exercise and the intended targets. He said the initial aim was firstly to impair Gaddafi’s military capability in the east, particularly around Benghazi, with the French playing the major role. U.S and British missiles had been aimed at destroying Libya’s air capability, by targeting around 20 radar and anti-aircraft sites. Meanwhile British fighter jets had targeted strategic sites around the capital Tripoli. The attacks are aimed at enforcing the UN Security Council’s no-fly zone mandate, and are the most significant international military effort since the invasion of Iraq. US President Obama said the use of force had not been his first choice, and again said he will not send ground forces. Colonel Gaddafi said the strikes are unjustified, calling the action “colonial aggression”. Copyright © 2011 euronews

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Gaddafi: ‘mad dog of the Middle East’
The late US President Ronald Reagan once described Colonel Muammar Gaddafi as “the mad dog of the Middle East.” Gaddafi’s theatrical and rambling speech on Tuesday, in the minds of many, carried echoes of the nickname Reagan gave him. Gaddafi’s address may have been intended to instill fear among his opponents, but the Libyan people show no sign of stopping their protests. In the speech, Gaddafi declared he would die a martyr in Libya, and he threatened to purge opponents “house by house” and “inch by inch.” “The Libyan people are with me,” he said, exhorting his supporters to “Capture these rats, these terrorists [anti-government demonstrators]!” French journalist Christian Mallard claims to have to inside information on the state of the Libyan leader’s health. He says Gaddafi is seriously ill but warns that the West should not underestimate him. The journalist for France 3 television said: “I think we should take his threats seriously. Gaddafi is unpredictable.” Mallard said a Libyan diplomat had told him that Gaddafi “takes a number of chemical products, and is lucid for only a few hours a day.” Despite relatively recently having appeared to make peace with the West, Gaddafi’s latest televised performance have been broadly construed to indicate that he remains as dangerous as ever. He said on Tuesday he had “not yet ordered the use of force”, and he warned: “When I do, everything will burn!” A number of high-profile ministers and diplomats have already defected from Gaddafi’s side, and there are reports that members of the armed forces are disobeying orders. Many analysts believe it is only a matter of time before Gaddafi leaves power, either by force or of his own accord, though there is also his own reference to becoming “a martyr”. Copyright © 2011 euronews

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EU still haggling over bank stress test
Even though the latest round of European bank stress tests are already underway, EU regulators are still haggling over how tough they should be. A second round of tests of how the region’s banks would cope with crisis has been rolled out because the those carried out last year were deemed to be inadequate. Europe’s new banking watchdog – the European Banking Authority – has said it will apply stricter rules but exactly how strict has yet to be agreed. At issue is how much capital lenders should have set aside in order to withstand economic shocks. Stress testing of about 90 European Union banks began this month, and on Friday the EBA published details of the economic shock that will be applied to individual banks and the test’s methodology. Copyright © 2011 euronews

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Exit poll puts Fine Gael ahead to lead Ireland’s next government
Ireland’s main opposition party Fine Gael is on course to lead the next government but without an overall majority, according to an exit poll by the state broadcaster RTE. It now appears certain that Enda Kenny will be the country’s new prime minister with 36 percent of votes, but below exceptions of a record victory. Nonetheless, if confirmed the result would mark a massive defeat for the ruling Fianna Fail party – its worst ever showing. It is tipped to win just 15.1 percent under Ireland’s system of proportional representation as its leaders appear to be paying the price for their handling of the country’s economic crisis. Copyright © 2011 euronews

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Barclays wins Lehman lawsuit
Lehman Brothers hurried sale of much of its US operations to Barclays at the height of the financial crisis was fair, a bankruptcy court judge has ruled. That means Lehman’s creditors are not entitled to recover the equivalent of eight billion euros from the UK bank. Lawyers had argued that Barclays got a preferential deal in buying Lehman’s US investment banking and brokerage operations. They were sold for the equivalent of about 1.3 billion euros in September 2008. That was just after Lehman filed for bankruptcy protection which many consider to have been the seminal event of the global financial crisis. US Bankruptcy Judge James Peck said: “The sale process may have been imperfect, but it was still adequate under the exceptional circumstances.” He added that any disclosure lapses did not affect the “fairness” or outcome of the sale hearing. He said there was an “undeniably correct” perception at the time that the sale “mitigated systemic risk,” helped avert “an even greater economic calamity,” and benefited all interested parties. “The court still would have entered the very same sale order because there was no better alternative and, perhaps most importantly, because the sale to Barclays was the means both to avoid a potentially disastrous piecemeal liquidation and to save thousands of jobs in the troubled financial services industry,” he said. Lehman’s bankruptcy estate declined immediate comment, saying the company is reviewing Peck’s decision. It could appeal. Barclays said it was pleased the court found the transaction was “the product of arm’s length negotiations,” and that it had acted in good faith. Lehman has also sued other banks including Bank of America, Canadian Imperial Bank of Commerce and JPMorgan Chase to recover assets for creditors. Copyright © 2011 euronews

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Daimler turnaround disappoints
Mixed news from Germany’s Daimler as its profit rebounded but was less than expected. Fourth-quarter earnings in 2010 before interest and tax – the figures analysts focus on most – came in at just under 1.6 billion euros, lower than the forecast of just over two billion. For all of 2010 net profit was 4.5 billion euros, compared with a 2.6 billion euro loss in 2009. Chief executive Dieter Zetsche said Daimler managed an excellent comeback last year and he credited strong demand from China as well as a recovery in car and truck sales in Europe and the US. He pointed out that Mercedes S, E and C class models were market leaders in their segments and last year the company introduced half a dozen new models. Daimler explained away the below forecast earnings by saying it boosted research and development spending last year by over 14 percent to almost five billion euros, focusing on “fuel-efficient and environmentally friendly technology.” But its upbeat outlook failing to reassure investors and the shares fell 4.4 percent. Copyright © 2011 euronews

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