If you like to read the transcript click the real news link:
Since early 2012, international financial institutions have been negotiating loans for what they say will help rebuild Egypt’s ailing economy. The European Bank for Reconstruction and Development, [also called the EBRD], is awaiting approval from its shareholders to provide $1.5bn in annual loans to Egypt. This will be the first time since its establishment that the EBRD has lent to the Middle East. On February 2012, the EBRD published its technical assessment of the country, recommending the continuation of more than 20 years of privatization policies.
Just as Tantawi expelled the protesters from Tahrir Square in Egypt after the fall of Mubarak, refused to punish those who had harmed the protesters (and has in fact begun a crackdown on the protesters themselves), and left the neoliberal policies of the former government mostly intact, so we will soon see Libya settle down after its childish outburst against the status quo. After all, revolution is bad for business.
Those darned Arabs and their revolutions… Gee, they need to grow up, don’t they? They could take a few pointers from our Democrats.
The fighting hasn’t even ceased in Tripoli, but the oil companies are right outside the gates, waiting to be let back into the country to suckle at the teat of largest fossil fuel cash cow (ugly image, I know) in Africa:
As Reuters reported Monday night, the Italian oil company Eni SpA has already sent staff into the country to evaluate the oil facilities. The Dutch company Shell, the French company SA, and Qatar’s national oil company are also eager to get in.
The people haven’t even had the chance to enjoy the illusion that their actual, in-every-sense-of-the-word revolution was worth it, that all the blood and loss and devastation was for something, that now they get to rule themselves, and already there are oil speculators in their country. Wow, markets are efficient, aren’t they?
It’s not just the oil companies, either. The so-called National Transitional Council has not only had no real hand in the push on Tripoli, it was even willing to try to compel the rebels to halt their advance if Gaddafi would accept an offer of safe passage out of Libya. This at the eleventh hour when victory in Tripoli was all but past.
The self-appointed Transitional Council, the Guardian reports, includes “several people who only recently defected from Gaddafi’s government.” Such as, for instance, Mustafa Abd El Jalil, the chair of the NTC, who was also Gaddafi’s former Minister of Justice. He defied Gaddafi and defected, sure, but let’s face it – wouldn’t you?