Iceland’s government has become the first state casualty to collapse from the economic crisis currently engulfing the globe. A new election is scheduled for May 9. Amid protests that have become increasingly violent, Prime Minister Geir Haarde resigned this week along with Bjorgvin Sigurdsson, the nation’s top economic minister. The International Monetary Fund is even coming to the rescue, something that while typical in “developing countries,” hasn’t happened to a Western European nation in over three decades. The economy is forecasted to shrink by 10 percent in 2009 according to the Icelandic Finance Ministry, possibly worse.
As the British pound continues downward relative to foreign currencies and the nation’s banks continue sucking up taxpayer money, nationalization seems to be on the horizon. Britain’s economy has been contracting at alarming levels, and the pound has gone down with it — down almost 30 percent against the U.S. dollar from last year to about 1.35.
The ruling military junta in Egypt is moving ahead with criminal prosecutions of dozens of foreigners, including more than 15 Americans, working for non-governmental organizations (NGOs) — all of which are funded with American or European taxpayer money — despite U.S. threats to cut off aid. The trials are set to begin on February 26, according to judicial sources cited in news reports.
As Libyans prepare to mark the one-year anniversary of the Western-backed uprising that ultimately toppled the regime of despot Muammar Gadhafi, human-rights monitors say hundreds of “out of control” militia groups are still engaged in mass savagery — raping and torturing people to death in makeshift prison camps, ethnically cleansing parts of the country, and more.
An armed uprising in Libya is imminent as people in the oil-rich North African nation continue to reject the new NATO-backed regime, one of slain Libyan despot Muammar Gadhafi’s sons told an Arabic TV station on Friday from neighboring Niger. Libya’s new rulers dismissed the statements and threatened the “interests” of the government of Niger if it did not hand over Saadi Gadhafi (left) for prosecution.
The relationship between the U.S. government and the Egyptian regime is coming under increasing pressure as authorities in Egypt shut down American tax-funded “democracy” groups in Cairo while pursuing reforms that are unpopular with the Obama administration and critics in Congress. Meanwhile, within Egypt, tensions between rival interests are also escalating.
The Western-backed overthrow of Libyan strongman Moammar Gadhafi likely provided huge stocks of heavy weapons to terrorist groups and criminal organizations operating in the Sahel region of North Africa, the United Nations confirmed January 26 in a report. Among the groups benefiting from the arms are al-Qaeda and the deadly Islamic terror organization Boko Haram, which is currently on a killing spree in Nigeria.
Gun fights south of Tripoli between rebel militias and forces still loyal to the late Libyan despot Moammar Gadhafi left several dead and dozens wounded over the weekend, according to news reports. And it is not over yet.
Egyptian voters delivered a powerful victory to Islamists and the long-outlawed Muslim Brotherhood in the first round of parliamentary elections, with hard-line Islamic parties winning around 65 percent of the vote. The news sparked widespread fears among Christians and others that Egypt could be plunged into tyranny once again while jeopardizing the security of neighboring Israel.
The new Libyan regime has promised to pursue political and economic integration with Sudan’s genocidal “President” Omar al-Bashir, designated a state sponsor of terrorism by the U.S. government since 1993 and wanted internationally for war crimes. Libya’s National Transitional Council (NTC) chief Mustafa Abdul Jalil (left) arrived in the Sudanese capital of Khartoum on November 25 for talks with the socialist, Islamist despot ruling Sudan. According to news reports, he was received with open arms.