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New UK terror alert system
10/07/2006 21:12 - (SA)
London - Britain unveiled a new alert system on Monday designed to keep the public informed of the perceived threat of a terrorist attack.
The system has been brought in after criticism that the government of Prime Minister Tony Blair has been reluctant to spell out the threat from groups like al-Qaeda or the British Islamists who carried out last year's London suicide bombings, in which 52 people were killed.
The system, to be introduced from August 1, will have five levels: Low (attack unlikely); Moderate (attack possible but unlikely); Substantial (attack a strong possibility); Severe (attack highly likely) and Critical (attack expected imminently).
The previous system had seven levels and the government never told the public what the level was at any given time.
"This is the first time the government has made public in this way the system deciding threat levels," home secretary John Reid told parliament.
He said the current threat level was "severe", chiming with the message put out by London police chief Ian Blair on Friday - the first anniversary of the July 7 2005, bombings.
The new system is more like the one used in the United States, where the government puts information in the public domain by using a colour coded system running through five levels from red (high alert) to green (low alert).
Potential to spook markets
Financial analysts said any upwards change to the threat level would probably have an impact on markets.
"It would definitely have the potential to spook markets," said David Jones, chief market analyst at CMC Markets.
"If we're in a strong market I think it would get shrugged off fairly quickly, if we're in a weak market then it would just add to the bearish sentiment."
Chris Iggo, strategist at AXA Investment Managers, said: "It sort of heightens the level of uncertainty so you might get typical flight-to-safety type trades being put on, out of equities into government bonds."
"But I don't think in the US it's had a big impact on the way the markets trade... I don't think there is an enormous amount of confidence in the security services to tell us that something is going to happen imminently."
- Reuters
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