Italy has agreed to pay US$ 5 million to Libya as compensation for damages during the colonial period, according to a treaty signed Saturday in Benghazi between both countries. The treaty was signed on behalf of the Italian government by Prime Minister Silvio Berlusconi and Muammar Kadhafi for the Libyans. According to the treaty, Rome apologised to Tripoli for the damages done to the African country during the period and vowed to pay the compensation over a period of 25 years. Speaking at the occasion, Kadhafi said the treaty was historic and stressed that the ceremony marked the defeat of colonialism. “Tyranny has a price which must be borne by the perpetrators,” the Libyan leader indicated, saying colonialism was a project bound to fail. The Libyan leader pointed out that Italians and Libyans were fighting side by side against colonialism, oppression, occupation, terrorism, mine laying and the assassination of children and women. Kadhafi said the treaty would transform the Mediterranean Sea into a strategic b ridge for products, services, tourism, oil and gas. “The Meditteranean Sea will become the haven of peace in the end,” Kadhafi added.
