Libya Peace Talks Begin But Economy Slides Towards Ruin

Libya suffered another blow to oil output in early February when one of only two remaining major oil export terminals was shut down due to a strike over unpaid salaries. The same day, the US and five major EU countries warned that Libya could face bankruptcy if oil output and prices continue to fall.

Attacks against oil installations and the luxury Corinthia Hotel in Tripoli in the early weeks of the year continued to plague efforts to return political and economic stability to the country. Peace talks resumed on 11 February in Ghadames, but analysts are pessimistic that a major breakthrough can be achieved. (CONTINUED - 2132 WORDS)