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LSE director Sir Howard Davies resigns over Libya links | LSE director Sir Howard Davies resigns over Libya links |
(about 1 hour later) | |
The director of the London School of Economics has resigned over its links to Libyan leader Col Muammar Gaddafi. | The director of the London School of Economics has resigned over its links to Libyan leader Col Muammar Gaddafi. |
Sir Howard Davies told the BBC the university's reputation had been damaged, and "I need to take the responsibility for that". | |
He said the decision to accept £300,000 for research from a foundation run by Col Gaddafi's son Saif had "backfired". | |
The LSE council has commissioned an independent inquiry into the university's relationship with Libya. | |
It will seek to clarify the extent of the LSE's links with Libya and establish guidelines for future donations. | It will seek to clarify the extent of the LSE's links with Libya and establish guidelines for future donations. |
Lord Woolf, former Lord Chief Justice of England and Wales and former chairman of the Council of University College London, has been appointed to carry it out. | Lord Woolf, former Lord Chief Justice of England and Wales and former chairman of the Council of University College London, has been appointed to carry it out. |
Sir Howard said he had resigned because of two "errors of judgement" - advising the LSE to accept the donation from Saif Gaddafi's foundation and visiting Libya to advise its regime about financial reforms. | |
'Hard to defend' | |
"I have concluded that it would be right for me to step down even though I know that this will cause difficulty for the institution I have come to love," he said. | "I have concluded that it would be right for me to step down even though I know that this will cause difficulty for the institution I have come to love," he said. |
There were risks involved in taking funding from sources associated with Libya which should have been weighed more heavily in the balance, he concluded in his resignation letter. | There were risks involved in taking funding from sources associated with Libya which should have been weighed more heavily in the balance, he concluded in his resignation letter. |
Sir Howard told the BBC that he first offered his resignation on Sunday, but was asked to withdraw it. | |
"The more I have thought about it - and one has to reflect and ask one's conscience - the more I thought about it, there were these two things which I found hard to defend," he said. | |
"I think the school will recover, but I decided it would recover more quickly if I accepted responsibility for those two errors of judgement. The LSE is a fine and important British institution." | |
One academic has said the row is being blown out of proportion. | One academic has said the row is being blown out of proportion. |
Colin Talbot is a professor at Manchester Business School, who also taught on one of the LSE courses in Libya. He thinks Sir Howard has been the victim of double standards. | |
"We have some British arms companies who have been selling arms to the Libyan regime," he said. | "We have some British arms companies who have been selling arms to the Libyan regime," he said. |
"We've had BP there, drilling for oil. Nobody has been calling for the chief executive of BP to stand down as a result of that, whereas the LSE, which has been involved in some fairly minor education and research activities, is going through this trauma." | "We've had BP there, drilling for oil. Nobody has been calling for the chief executive of BP to stand down as a result of that, whereas the LSE, which has been involved in some fairly minor education and research activities, is going through this trauma." |
Sir Howard Davies is a former head of the Financial Services Authority and deputy governor of the Bank of England. | Sir Howard Davies is a former head of the Financial Services Authority and deputy governor of the Bank of England. |
He will remain as the head of the LSE until a successor has been found. | He will remain as the head of the LSE until a successor has been found. |
Peter Sutherland, chairman of the LSE's court of governors, said Sir Howard had been an "outstanding" director over the past eight years. | Peter Sutherland, chairman of the LSE's court of governors, said Sir Howard had been an "outstanding" director over the past eight years. |
"We accept his resignation with great regret and reluctance but understand that he has taken an honourable course in the best interests of the school," he said. | "We accept his resignation with great regret and reluctance but understand that he has taken an honourable course in the best interests of the school," he said. |
The LSE has already announced it is investigating claims that Saif Gaddafi plagiarised his PhD thesis, which was awarded in 2008. | The LSE has already announced it is investigating claims that Saif Gaddafi plagiarised his PhD thesis, which was awarded in 2008. |
The Libyan leader's son studied at the LSE, gaining both an MSc and PhD. | |
Are you an LSE student? Or are you Libyan? What is your reaction to Sir Howard Davies' resignation? You can send us your comments using the form below: |