The power of Gaddafi's: not only in Italy

The Libyan regime has financial interests abroad, particularly in Italy, worth about $ 70 billion. The col can count on four of his seven children.


"I have nothing except Libya. " With this statement uttered in the midst of a speech broadcasted on state's television of Tripoli, last February 22 Colonel Muammar Gaddafi answered to those who accused him of having "plundered" the vast resources of his country for personal and family members.


Beyond the accusations and the rhetoric of Gaddafi, it is interesting to look at the list of foreign investments of the Tripoli's regime, whose value, according to journalistic estimates is around 70 billion dollars.


The libyan National Investment Company (SNI), founded in 1986, is one of two intermediaries through which  the regime invests abroad. In more recent times Lafico is added to it, that is the Libyan Arab Company for Foreign Investments controlled by the Central Bank of Tripoli. The SNI and Lafico are commonly regarded as the two international financial  arms of Gaddafi.


In Italy the SNI owns 2.6% percent of the shares of the bank Unicredit, 2of Finmeccanica and 7% of Juventus Football Club, while the Lafico has now just under 2% of Fiat (relations between Tripoli and the Turin date back to 1976).


The SNI has also 3% of Pearson - British publishing giant that controls, moreover, one of the leading western economic daily, the Financial Times. The Libyan National Company for Investments has significant stakes in companies in Jordan, Turkey, Russia and Austria.


Among his seven children, Gaddafi can count on four of them. His eldest son Muhammad, the only child of first marriage is 40 years old, is president of the National Olympic Committee and supervises the management of fixed and mobile telephony in the country.


The second is Saif al Islam (Sword of Islam), 38, described as the most in contrast with with his fatherTwo and a half years ago he announced his retirement from political life to devote himself full time to the direction of the Gaddafi International Charity and DevelopmentFoundation (Gicd), which occurred recently in some international negotiations andpro-Palestinian initiatives.


The sword of Islam also directs the publishing group Al Ghaddar (the tomorrow), self-styled organ "independent and critical of the conservative wing of the libyan regime. "


The fourth son Mu'tasim, 36, is a member of the Libyan National Security Council and in this capacity in 2009 had met the U.S. Secretary of State Hillary Clinton.


His sixth son, Khamis (which means "fifth"), 30, is the head of the thirty-sixth reinforced brigade, core of the Libyan special forces, according to certain sources he is involved in the repression of these days.






Source: Limes