The director of one of London’s top universities was forced to quit Thursday amid an embarrassing controversy involving the Libyan regime and some potentially iffy donations that raise questions over who is funding the UK’s most prestigious schools.
Esteemed economist Howard Davies has resigned from the London School of Economics (LSE) amid growing speculation over its dealings with Libyan leader Muammar Gaddafi, including a £1.5 million ($2.4 million, €1.8 million) donation from his son, Saif al-Islam Gaddafi, who obtained both his masters’ degree and a Ph.D. from the school.
A LENGHTY AFFAIR
2003:Saif al-Islam Gaddafi graduates from the LSE with a master’s degree in philosophy, policy and social value.2007:LSE accepts £50,000 from Libya in return for advice from director Howard Davies on Libya’s multi-billion sovereign wealth fund, which had dealings with BP and financed Juventus football club and Italian oil giant Eni.2008:Saif Gaddafi begins a Ph.D. in philosophy at the LSE.2009:LSE’s North Africa programme is set up with a £1.5 million grant from Saif Gaddafi’s International Charity and Development Foundation, to be paid over five years.21 February 2011:After days of unrest in Libya, the LSE suspends the North Africa programme with £300,000 of the £1.5 million so far received. The LSE also cancels a £2.2 million study programme for Libyan officials (£1.5 million of which has already been paid).3 March 2011:LSE director Howard Davies resigns over scandal.4 March 2011:LSE commissions independent investigation into donations and "academic authenticity" concerning sections of Saif al-Islam Gaddafi’s thesis.
Date created : 2011-03-04