At BNP Paribas SA’s New York trading desk, Julia Coronado, the bank’s chief North America economist, watched as three words helped undermine the Federal Reserve’s latest attempt to aid the U.S. economy: “significant downside risks.”
There are certain writers whose deaths leave us intellectually impoverished. Imagine if Tocqueville were here to explain the Tea Party, or if we could read Solzhenitsyn today on a revenant Russia, or Naguib Mahfouz on Tahrir Square.
President Ronald Reagan called Muammar Qaddafi a “mad dog” in 1986 when he ordered air strikes on Tripoli. A quarter century later, it might be the Libyan leader’s fellow Arabs who ultimately broker his downfall.
Ahmed Algallal, an importer of Kone OYJ lifts in Libya, spent 14 years in the U.K. because his father preferred exile to life under Muammar Qaddafi . “There won’t be another exile for me,” he said. “We win or die.”
Popular protests that ousted long- serving presidents in Tunisia and Egypt this year served as a catalyst for demonstrations against Libya’s Muammar Qaddafi . This timeline tracks Qaddafi’s 42 years in power. He holds no official title and is referred to as “Leader and Guide of the Revolution.”
Muammar Qaddafi’s four decades of rule in Libya were marked by international sanctions and a distribution of income that left Libyans, who sit on Africa’s largest oil reserves, poorer than the people of almost every other major Arab oil producer.
Muammar Qaddafi bought influence in Africa in the past four decades with investments in everything from chicken farms to rebel movements. That flow of funds to some of the world’s poorest countries may be about to end.
Libyans demonstrated for a third day against the four-decade rule of Muammar Qaddafi as the deaths of protesters in clashes with security forces and regime supporters heighten tension in the North African oil-producing nation.