BRITAIN'S Chancellor of the Exchequer, George Osborne, presented a pro-growth budget that included a reduction in corporate tax and a number of minor measures to help spur the UK private sector's static economic growth. A one penny reduction in petrol tax and the freezing of the fuel duty escalator costing two billion pounds would be recovered from a levy on oil companies, said Mr Osborne but oil companies challenged this assumption.
Inflation in Britain rose to 4.4 per cent in February, the highest since October 2008.
AFTER five days of aerial attacks by French, UK and US planes an effective no-fly zone had been established on Libya. Responsibility for its maintenance was passed to Nato. Uncertainly persisted about the extent to which regime change in Libya could be considered an objective under the operative UN resolution.
SURPRISING evidence of tensions between Russia's President, Dmitri Medvedev, and Prime Minister, Vladimir Putin, emerged when Medvedev openly crticised Putin's description of the UN action in Libya as a medieval call to crusade.
JOSE Socrates resigned as Prime Minsiter of Portugal after opposition parties refused to support the austerity measures he had proposed to deal with Portugal's parlous financial state. Observers said that a Eurozone/EU bailout might be necessary.
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