Commonwealth of Nations (known as the Commonwealth of Nations since 1949), an informal but close-knit association that succeeded the British Empire. Beginning with the independence of India and Pakistan in 1947, the remainder of the British Empire was almost completely dismantled. Today, most of Britain's former colonies belong to the Commonwealth, almost all of them as independent members. There are, however, 13 former British colonies, including Bermuda, Gibraltar, the Falkland Islands, and others, which have elected to continue rule by London and are known as British Overseas Territories. From the Troubles to the Belfast Agreement In the 1960s, moderate unionist Prime Minister of Northern Ireland Terence O'Neill tried to reform the system and give a greater voice to Catholics who comprised 40% of the population of Northern Ireland. His goals were blocked by militant Protestants led by the Rev. Ian Paisley. The increasing pressures from nationalists for reform and from unionists to resist reform led to the appearance of the civil rights movement under figures like John Hume, Austin Currie and others. Clashes escalated out of control as the army could barely contain the Provisional Irish Republican Army (IRA) and the Ulster Defence Association. British leaders feared their withdrawal would give a "Doomsday Scenario", with widespread communal strife, followed by the mass exodus of hundreds of thousands of refugees. London shut down Northern Ireland's parliament and began direct rule. By the 1990s, the failure of the IRA campaign to win mass public support or achieve its aim of a British withdrawal led to negotiations that in 1998 produced the 'Good Friday Agreement'. It won popular support and largely ended the Troubles. The economy in the late 20th century After the relative prosperity of the 1950s and 1960s, the UK experienced extreme industrial strife and stagflation through the 1970s following a global economic downturn; Labour had returned to government in 1964 under Harold Wilson to end 13 years of Conservative rule. The Conservatives were restored to government in 1970 under Edward Heath, who failed to halt the country's economic decline and was ousted in 1974 as Labour returned to power under Harold Wilson. The economic crisis deepened following Wilson's return and things fared little better under his successor James Callaghan. A strict modernisation of its economy began under the controversial Conservative leader Margaret Thatcher following her election as prime minister in 1979, which saw a time of record unemployment as deindustrialisation