Elephant, meet room.
Doubt and despair returned to Europe by Tuesday despite positive reaction a day earlier to the French-German proposals to save the teetering euro. The reason? The pachyderm in the room that markets see all …
Germany
Is Sarkozy and Merkel’s New Debt Proposal The Beginning of The End To The Euro Crisis?
The details of the campaign by France and Germany to save the euro became a little clearer Monday though substantial questions about it remain as the week winds toward a European Union summit on the euro crisis summit on Friday. …
The Bonn Conference: Can Afghanistan Be Saved Without Pakistan On Board?
It’s rarely a good sign these days when a summit gets referenced by the city that hosts it: Kyoto is now synonymous with the international community’s failures dealing with climate change; Oslo has become another watchword for …
After the Embassy Attack: Are Iran and the West Lurching Toward War?
The prospect of Iran and its Western adversaries stumbling into a military confrontation that neither side wants seems worryingly less improbable by the day. And if they do, each side will have plenty of evidence at hand to blame the other for instigating the conflagration. The latest round of brinkmanship, this week, came in the …
No New Action On Euro Crisis As Leaders Agree To Disagree
Observers weren’t expecting much from the mini-summit Thursday in Strasbourg, France, where French President Nicolas Sarkozy, German Chancellor Angela Merkel, and Italian leader Mario Monti met to discuss Europe’s dire debt crisis. Such lowered expectations proved well-founded. Because even as the situation threatening the …
Despite a Tougher IAEA Report, It’s Business as Usual on Iran’s Nuclear Program
The Washington spin on the IAEA resolution agreed Thursday is that it “sharply criticizes” Iran — or, more accurately, expresses “deep and increasing concern about the unresolved issues” about the nuclear program Tehran insists is purely peaceful, but which the UN nuclear watchdog has alleged may have have included research work, …
The Euro Zone Crisis: Are the Merkozy Headed for Divorce?
The seamless partnership France and Germany forged in past weeks now shows signs of fraying as both countries spar over the role of the European Central Bank (ECB) and proposals to mutualize euro zone debt. By pooling financial liabilities and assets across the 17-nation euro zone, stronger nations like Germany and France could back …
Israel and Iran: Covert Warfare Raises Risks of Retaliation, and Conflagration
If Iran’s leaders actually believe their official insistence that last weekend’s blast at the Bid Ganeh Revolutionary Guard Corps missile base was an accident, the event is unlikely to make any difference to regional stability. But if Iran, instead, believes claims — and widely held suspicions in Tehran — that the blast, which …
Whither the European (Dis)Union?
Is significantly greater integration the surest way to prevent both the euro and even the entire European Union from blowing apart? Or is EU federation–and the basic powers national governments now wield being weakened in the process–exactly the kind of radical fusion certain to send countries jealous of their sovereignty fleeing …
Europe’s Debt Tragicomedy: Horror Show Turns Into Shambolic Farce
There are occasions when even the scariest of movies will push the atmosphere of dread, danger, and doom a bit too far, and leave the scenario of improbable horror and panic feeling just stupid. That moment has arrived in Nightmare On Euro Street, as people who watched Europe’s escalating crisis through their fingers in terror begin …
Thwarted at the U.N., Is Palestinian Leader Abbas Headed Off Into the Sunset?
President Mahmoud Abbas’ attempt to persuade the U.N. Security Council to admit a state of Palestine as a full member of the international body has, all too predictably, hit a wall. The technical U.N. committee to which the issue was referred , not surprisingly, failed to reach a consensus (because there’s no consensus among Council …
Sarkozy to Obama: “I Cannot Bear Netanyahu. He’s a Liar.”
Despite the protective efforts of some of the courtlier members of the Fourth Estate, what the President of France said to the president of the United States about the Prime Minister of Israel was on front pages Wednesday, along with what the American president said in reply.
“I cannot bear Netanyahu. He’s a liar,” Nicolas Sarkozy …
At Cannes G20 Summit, Europe’s Currency and Leadership Pushed to the Brink
They may be clichés, but the phrases “life isn’t always fair”, and “things don’t necessarily work out the way you’d like” are cruel realities that French President Nicolas Sarkozy has to be ruefully mulling over just now. Rather than basking in the sunlight of a France-presided G20 summit meant to usher in major …