Europe
UK to end financial aid for ex-colony India
The Minister for international development announced today that the UK’s aid to India programme would be phased out and cut off by 2015. Justine Greening said that the cut would save the UK about $319m, with a foresight to assure technical assistance instead. The move will be popular with backbench Conservative MPs. India is currently the second largest recipient of UK aid, despite India having its own space programme and their acquisition of French, not British, military aircraft. However, the move reflects the progress India’s economy has been making. India’s foreign minister Salman Khurshid said, “Aid is the past and trade is the future.” Ministers have defended aid in the past because of extreme levels of poverty and the colonial past of the two countries.
Latin America
Banana war ends between EU and Latin America
The World Trade Organisation (WTO) has settled a dispute between the European Union (EU) and ten Latin American countries, over bananas. The dispute dates back two decades and relates to EU protectionist tariffs, which were used on Latin America to offset export costs in former colonies in Africa and the Caribbean. The deed follows on from an informal agreement set out by the EU to reduce tariffs, but today this was fully signed to. Pascal Lamy, the head of the WTO, said it was an historical moment. He added, “After so many twists and turns, these complicated and politically contentious disputes can finally be put to bed. […] It has taken so long that quite a few people who worked on the cases, both in the secretariat and in member governments have retired long ago.”
Argentina march escalates
Tens of thousands of people have turned out in Buenos Aires to protest against President Cristina Fernandes de Kichner’s economic and integrity policies. Set up from social media, the protestors are voicing concerns over rising inflation, corruption and crime. There are also concerns that official government economy figures are inaccurate and that purchased US Dollars are suppressing confidence for Argentines who want to trade in their own currency. The International Monetary Fund have, for the first time since the country fully democratised, warned it may face sanctions if growth doesn’t improve by December.
Middle East & North Africa
Libya: Arrest warrant issued for ex-leader over murder
Libya’s ex-interim leader Mustafa Abdul Jalil has been called in for questioning over his role in the killing of a rebel commander in 2011. He is one of eleven who have been called to question. The ex leader was the chair of the National Transition Council when the top rebel commander, Abdel Fattah Younes, was shot dead. Suspicions arose around Mr Jalil when different accounts were given over Mr Younes’ Death, as well as Younes’ close ties with former leader Muammar Gaddafi.
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