Metro London police are standing down and will not be storming Ecuador’s embassy according to a statement made by Ecuador’s President Rafeal Correa. "We consider this unfortunate incident over, after a grave diplomatic error by the British in which they said they would enter our embassy," Correa said on Saturday in a weekly media address.
The July data for the coalition government of the United Kingdom show corporate tax collections below estimates and government spending over estimates, increasing speculation that more government spending reductions may be near in order to reduce the national deficit.
Britain may also be facing what a number of other European nations have endured over the last several years: a downgrading of credit rating of government bonds, raising the interest rates which must be paid. Currently the UK has a comfortable AAA credit rating; however, if there is a significant increase in government borrowing, that could change.
On August 17, a Moscow court found three young female performers from the Russian punk band Pussy Riot guilty of “hooliganism motivated by religious hatred,” and the band members were sentenced to two years in a penal colony — signaling the resurgence of communist totalitarianism in Russia.
Ecuador granted asylum to WikiLeaks chief Julian Assange on Thursday in defiance of the British government’s threat to occupy the country’s embassy. Prior to Thursday's announcement London's finest surrounded the Ecuadorian embassy throughout the day. Hundreds of metropolitan police waited on orders to seize control of the embassy as the announcement of Ecuador's decision on Julian Assange's asylum petition approached.