Frederick Douglass

"Power concedes nothing without a demand. It never did, and it never will. Find out just what people will submit to, and you have found out the exact amount of injustice and wrong which will be imposed upon them..." Frederick Douglass

Friday, May 27, 2011

G8 pledges $20 billion to foster Arab Spring

The counterrevolution putting its money where its money is.


Most is in the form of loans rather than outright grants, to the two countries in the vanguard of protest movements which have swept the Arab world from the Atlantic to the Gulf. Egypt and Tunisia are planning to hold free elections this year.

French President Nicolas Sarkozy said that on top of $20 billion of credits provided by the World Bank and similar regional lenders dominated by the major powers, there would be as much again from other sources -- $10 billion from oil-rich Gulf Arab states and $10 billion from other governments.

http://www.reuters.com/article/2011/05/27/us-g-idUSTRE74P00320110527?feedType=nl&feedName=ustopnewsearly