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Tunisian riot police stand guard outside the French Embassy in Tunis in anticipation of protests against French military clashes with Islamist militants in Mali.
Tunisian riot police stand guard outside the French Embassy in Tunis in anticipation of protests against French military clashes with Islamist militants in Mali.
(ANIS MILI/REUTERS)

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Investors in Northern Africa: We told you so

The French intervention in Mali and the subsequent hostage crisis in Algeria are brutal reminders that Northern Africa as a whole has become more fragile since the Arab Spring of 2011. This unpleasant reality may surprise anyone who chose to ignore politics and history. But investor panic tomorrow would be as foolish as insouciance was yesterday.