Crises are compounded

World first time since 1973, feels like the mutual influence of oil prices and food prices. Prices for corn, soybeans and meat surged this week to its maximum, while the price of oil reached nearly $ 140 per barrel. On Sunday at a meeting in Jeddah (Saudi Arabia), ministers of various countries, as expected, will express its opinion on the heavy burden of high costs of oil and food, which affects developing countries. Saudi Arabia is the world's largest producer of oil and yet even she admitted there was a danger after the developing countries, including U.S. ally Pakistan has turned to her with a request to postpone the date of payment for oil. Morocco was forced last month to seek $ 800 million loan to Saudi Arabia and United Arab Emirates in order to mitigate the impact of imports of oil and grain. In Washington, said: "We see that China, India, Indonesia, Vietnam and Malaysia simply can not tolerate such a burden on the central budget and the fact that the merger price of oil and food has too much influence." He added: "This leads to a real threat to security, when the streets of the excitement begins. Martin Bartenstein, Austrian Minister of Economy, who will be present in Jeddah, said on Friday that the risk of social unrest caused by high oil prices and an increase in inflation to double-digit will be his main argument. "This is a very important issue on the agenda" - said one European diplomat.