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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/03/probe-into-lse-libya-link-ordered.jpg"><img class="alignnone size-full" title="Sir Howard Davies has resigned as director of the London School of Economics over the university's links to Libya (AP)" src="http://londonglossy.com/wp-content/uploads/2011/03/min-probe-into-lse-libya-link-ordered.jpg" alt="Sir Howard Davies has resigned as director of the London School of Economics over the university's links to Libya (AP)"/></a></p>
<p>An independent investigation into the London School of Economics&#8217; links with Libya has been ordered after the university&#8217;s director resigned over the controversy.</p>
<p>Sir Howard Davies said the university&#8217;s reputation had suffered because of its ties to the regime of Colonel Muammar Gaddafi, and that it had been a mistake to accept £300,000 research funding from a foundation controlled by the dictator&#8217;s son Saif.</p>
<p>He admitted he made a &#8220;personal error of judgment&#8221; in travelling to Libya to advise the regime on how to modernise its financial institutions.</p>
<p>The investigation, to be conducted by former Lord Chief Justice of England and Wales Lord Woolf, will look in particular at the university&#8217;s links to Saif Gaddafi, who studied for an MSc and PhD there.</p>
<p>There are claims he plagiarised his PhD thesis, which was awarded in 2008, using a ghost writer and copying parts of it from other material.</p>
<p>In a statement, Sir Howard, a former head of the Financial Services Authority and deputy governor of the Bank of England, said: &#8220;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. The short point is that I am responsible for the school&#8217;s reputation, and that has suffered.</p>
<p>&#8220;I advised the council that it was reasonable to accept the money and that has turned out to be a mistake. There were risks involved in taking funding from sources associated with Libya and they should have been weighed more heavily in the balance.</p>
<p>&#8220;Also, I made a personal error of judgment in accepting the British government&#8217;s invitation to be an economic envoy and the consequent Libyan invitation to advise their sovereign wealth fund. There was nothing substantive to be ashamed of in that work and I disclosed it fully, but the consequence has been to make it more difficult for me to defend the institution.&#8221;</p>
<p>Sir Howard, who has been director of LSE for eight years, will stay in the role until a successor is found.</p>
<p>A key part of the inquiry will be the financial links between LSE and Libya. Lord Woolf is expected to investigate the acceptance of a £1.5 million donation from the Gaddafi International Charity and Development Foundation (GICDF) in 2009, £300,000 of which has been received so far.</p>
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