Comrades to competitors: France and Italy vie for a slice of Libyan pie

The race for Libya's vast oil wealth is gathering momentum. States who worked together during the NATO airstrikes are now working against each other in the battle to secure lucrative energy contracts. Meanwhile, fears are rising that a new regime in Libya could easily slide into corruption. Half a billion dollars from Italy, and now a whopping $1.5 billion from the UN in unfrozen Libyan assets – on top of $300 million dollars from Turkey. As discussions abound about the future of a post-Gaddafi Libya, it is the money that has been talking the loudest.“Governments have a strong interest in opening up new channels for opening up business again and everybody is racing for this,” says Lucca Galassi, a journalist from PeaceReporter.net. “The French have Total and have other companies like Alcatel, Ariva and even train companies that are operating there.”...More