Four admit plotting London bombings
London Stock Exchange
Four radical Islamists have admitted in court plotting to bomb the London Stock Exchange as part of a campaign of al Qaeda-inspired attacks across the British capital in the run-up to Christmas 2010.The conspiracy included plans to post bombs to the United States Embassy and the home of London Mayor Boris Johnson. Police foiled the plot at an early stage before firm dates were agreed or explosive devices assembled. The plan was to cause "terror, economic harm and disruption" rather than injury, prosecutor Andrew Edis told London's Woolwich Crown Court.However, "their chosen method meant there was a risk people would be maimed or killed," he said. The four, with five other men, admitted a range of terrorism offences after changing their pleas shortly before their trial had been due to begin, the Press Association reported. The defendants, all British nationals with Bangladeshi or Pakistani backgrounds, had been inspired by al Qaeda and the late radical Muslim cleric Anwar al-Awlaki, Edis said.Al-Awlaki, a US citizen linked to al Qaeda's Yemeni branch, was killed last year in a CIA drone strike.Undercover officers had followed two of the conspirators in November 2010 as they made observations of London landmarks including the Big Ben clock tower, parliament, Westminster Abbey and the London Eye ferries wheel.The two men, Mohammed Chowdhury, 21, and Shah Rahman, 28, both from east London, admitted preparing for acts of terrorism by planning to plant an improvised bomb in the toilets of the London Stock Exchange.Brothers Gurukanth Desai, 30, and Abdul Miah, 25, both from Cardiff in Wales also pleaded guilty to the same charge.Some of the defendants had also discussed leaving home-made bombs in the toilets of pubs in Stoke, in the English midlands.The judge told Chowdhury he could expect to receive 18.5 years and Rahman 17 years, although the actual time spent in jail would be shorter, around six years, taking account of time already served and parole. The five other men, one from Cardiff and four from Stoke, admitted lesser terrorism offences including attending operational meetings and fundraising. All will be sentenced next week.
Belgium slides into recession
Belgium fell back into recession in the second half of last year, data showed today, the first euro zone member not subject to a bailout programme to do so.It paved the way for what is expected to be a very difficult 2012 for the 17-member bloc, both core economies and those in the debt-ridden periphery. Gross domestic product (GDP) in Belgium, the bloc's sixth largest economy, shrank by 0.2% in the fourth quarter, following a quarterly contraction of 0.1% in the July-Sept period. Two consecutive quarters of contraction is generally accepted by economists as the minimum for an economy to be considered in a recession. Belgium is often cited as a harbinger of things to come in Europe and many countries in the region are already sliding towards recession, hit by the euro zone debt crisis and a wave of austerity required to cure it.Final quarter figures for the euro zone, which grew by 0.2% in the third quarter, will be published on Feb. 15.Germany, France, Italy and the Netherlands are also due to release their GDP estimates on that day. Spain said on Monday its economy had shrunk in the fourth quarter. Greece and Portugal, which with Ireland are being bailed out by the European Union and others, are both struggling in recession. A Reuters poll in January predicted that the euro zone as a whole will contract 0.3% in the coming year. Economists said today it had come as no surprise to see Belgium's recession confirmed. Indeed the 0.2% contraction was slightly better than some had expected. Few also expect any improvement in the first three months of 2012, notably after the new Belgian government imposed austerity measures in December designed to save 11.3 billion euros ($US14.8 billion).Private households in particular are downbeat, the consumer sentiment index falling to a two-and-a-half year low in January.” In order to sell the measures our politicians have had to talk a different language ... They have to say the situation is serious. Saying this makes people feel less comfortable," said Etienne De Callatay, economist at Bank Degroof.Economists broadly expected growth in the second quarter, the rate dependent on the health of trade partners. Belgium is among the most open economies in the world."There could be some upward potential coming from outside," said Steven Vanneste of BNP Paribas Fortis. "Financial tensions are easing so I think the worst of the economic crisis should be behind us. We see stabilisation right now but its still in a very fragile state."Year-on-year on Belgium grew 0.9% in the fourth quarter for a 1.9% total growth in 2011.
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