Could Muammar Gaddafi's playboy son Saadi really launch a Gaddafi comeback in Libya? That's what he's just claimed in an interview with the al-Arabiya television network. He said he had many supporters still even inside the transitional council which has governed Libya since overthrowing his father. The new Libyan authorities are worried about possible actions by Gaddafi loyalists. Saadi Gaddafi probably has plenty of money and weapons, but the likelihood of him leading a
full-scale
uprising seems remote given the broad support in Libya for the new regime.
Five ministers have resigned from the Greek coalition government after refusing to back fresh austerity measures demanded by the eurozone in return for a bailout. The leader of a junior party in the coalition described the demands as humiliating, but the Greek Prime Minister Lucas Papademos warned of uncontrolled chaos if the country
defaulted
.
The international agency Standard & Poor's has lowered its
credit rating
for 34 Italian banks. The downgrade affects nearly all the Italian banks rated by the agency. Here's our economics correspondent Andrew Walker.
Standard & Poor's has lowered its general view of the
soundness
of the Italian banking system. The agency now puts it in the same category as Brazil and Mexico. This partly reflects the high level of Italian government debt and possible spillovers to the banks. S&P says that banks' profits and the country's economic growth are likely to be weak and banks may find it harder to borrow the money they need. Andrew Walker