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Economist, May 2-8, 2015

One week ahead of Britain's national elections, polls are too close to call between the two leading candidates, the Tories' incumbent Prime Minister David Cameron and Labour leader Ed Miliband. The Economist divides its cover between the two, casting the election as a choice between risks: for the economy (Miliband) and for a possible UK exit from the European Union (Cameron).

"The Tories’ Europhobia, which we regretted last time, could now do grave damage," the magazine writes. "A British exit from the EU would be a disaster, for both Britain and Europe." But ultimately, the editors see the recipe for a "fairer Britain" proposed by Miliband as a greater risk to the nation's future: "Despite the risk on Europe, the better choice is Mr Cameron’s Conservatives." Read the full editorial here.

ABOUT THE SOURCE: The Economist is a leading international magazine of economics and politics, founded in 1843 in London.

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Geopolitics

The New Iraq, Signs Of Hope Amid The Rubble And Reconstruction

How do you rebuild a country decimated by four decades of war and embargoes? Following the withdrawal of the U.S. military, Iraq faces many challenges, from oil revenues captured by the militias and endemic corruption to religious segregation. However, there are glimmers of hope for the country's future.

Street scene in Erbil, Iraq

Théophile Simon

BAGHDAD — With a vast office located at the top of a tower fiercely guarded by the army and a bell to call the staff, Khalid Hamza Abbas is obviously a powerful character, decked out in an impeccable suit. Abbas runs the Basra Oil Company (BOC), the national company responsible for the exploitation of the oil fields in the province of Basra, in the very south of Iraq, from which four million barrels of crude oil flow daily. It’s the equivalent of 4% of world demand and 65% of central government revenue concentrated in a region of only four million inhabitants.

As he explains the profit-sharing scheme between the world’s major oil companies and his public enterprise, the 50-year-old with thin glasses is suddenly stopped dead in his tracks by the ringing of his telephone. He tries a joke to mask his suddenly worried face: "I'm going to ask you to leave my office for a few moments. If I haven't called you back in 10 minutes, call the police."

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