ECONOMIC TIESUntil the unrest, economic ties had been blossoming. Italy, in particular had developed close links with its former colony, with which it also had agreements to block the flow of clandestine immigration from Africa. However Gaddafi said these were now under threat."I think and hope that the Libyan people will reconsider economic and financial ties and also those in the field of security with the west," he said.Eni, Italy's biggest oil and gas company, has extensive operations in Libya, including long-term contracts and says it plans to invest some $25 billion there.Other Italian companies with significant interests or ties include defence and aerospace group Finmeccanica and Italy's biggest bank Unicredit."When your government is replaced by the opposition and the same thing happens in the rest of Europe, the Libyan people will perhaps take new relations with the West into consideration," Gaddafi said.He also repeated that his government had represented a bulwark against Islamic extremism, which could now be unleashed, triggering more serious unrest in the region."If instead of a stable government which guarantees security, these bands linked to bin Laden take control, the Africans will move in a mass towards Europe and the Mediterranean will become a sea of chaos," he said.If western forces attacked Libya, he would join forces with the radical Islamists. "We will ally ourselves with al Qaeda and declare holy war," he said.
Gaddafi is 'shocked by former European friends'
Libyan leader dismisses calls for a no-fly zone, says Sarkozy has a "mental disorder" and feels "betrayed" by Berlusconi.
ECONOMIC TIESUntil the unrest, economic ties had been blossoming. Italy, in particular had developed close links with its former colony, with which it also had agreements to block the flow of clandestine immigration from Africa. However Gaddafi said these were now under threat."I think and hope that the Libyan people will reconsider economic and financial ties and also those in the field of security with the west," he said.Eni, Italy's biggest oil and gas company, has extensive operations in Libya, including long-term contracts and says it plans to invest some $25 billion there.Other Italian companies with significant interests or ties include defence and aerospace group Finmeccanica and Italy's biggest bank Unicredit."When your government is replaced by the opposition and the same thing happens in the rest of Europe, the Libyan people will perhaps take new relations with the West into consideration," Gaddafi said.He also repeated that his government had represented a bulwark against Islamic extremism, which could now be unleashed, triggering more serious unrest in the region."If instead of a stable government which guarantees security, these bands linked to bin Laden take control, the Africans will move in a mass towards Europe and the Mediterranean will become a sea of chaos," he said.If western forces attacked Libya, he would join forces with the radical Islamists. "We will ally ourselves with al Qaeda and declare holy war," he said.