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UK government admits trade deal with Libya

After weeks of speculation and rumour the cat seems to be out of the bag with confirmation that the UK government tied trade talks to the release of the Lockerbie bomber. This revelation, which was released into the public domain by none other than Jack Straw, is a serious issue for Gordon Brown as he has in effect been accused of "not telling the truth". So far there has been no response from Gordon Brown although it is well known that trade talks have been ongoing with Libya for some time.

At a time when the UK economy is showing signs of recovery the UK government is risking serious issues with existing trade agreements, in particular with the US. There is even a threat that the US authorities may well withdraw their cooperation with regards to "pulling together" terrorist information. Even though potential trade with Libya could be enormous in the future this could be dwarfed by any potential knock-on effect to existing trade relations.

So far there has been no direct impact from US consumers as a whole but the Scottish economy in particular seems to be the one most at potential risk. Whether the UK authorities will live to regret the release on compassionate grounds of the Lockerbie bomb remains to be seen.

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