Europe/Middle East

  • Germany Has No Choice But To Save Europe: Mohamed El-Erian

    Why Germany Has No Choice But To Save Europe: Mohamed El-Erian

    Ultimately, there can be no strong Germany without a stable eurozone; no stable eurozone without a strong Germany; and no global economic stability without both. Germans might not like their choices, but refusing the responsibility of leadership is one option that Germany does not have.

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  • Behind The Fracking Divide In The UK

    Behind The Fracking Divide In The UK

    Local communities in the U.K. may still be against hydraulic fracturing, or “fracking”, but the government has once again proven that its interests are more closely aligned with investment bankers in the City of London than those forced to live with the consequences.

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  • Europe’s Economic Honeymoon Is Over: Nouriel Roubini

    Europe’s Economic Honeymoon Is Over: Nouriel Roubini

    The honeymoon for the ECB's new president Mario Draghi has turned out to be brief. The trouble is that the eurozone has an austerity strategy, but no growth strategy – and, without that, all it really has is a recession strategy that makes austerity self-defeating, because, if output continues to contract, deficit and debt ratios will continue to rise to unsustainable levels.

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  • Why the Eurozone Must Stop Blackmailing the IMF: Simon Tilford

    Why the Eurozone Must Stop Blackmailing the IMF: Simon Tilford

    What nerve the eurozone has. On one hand, it prides itself as a highly successful and integrated sovereign currency bloc that lives within its means. Yet, at the same time, eurozone members vehemently insist that the IMF is obliged to support debtor nations within the Union. European policymakers need to realize that they cannot have it both ways, and the eurozone needs to stop blackmailing the IMF, whose obligation lies with the wider international community. 

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  • A United Kingdom Divided: Scottish Independence & Its Repercussions

    A United Kingdom Divided: Scottish Independence & Its Repercussions

    A Scottish vote in favour of independence in a referendum would end the country’s 307-year intermarriage with England. But it would also have huge economic, political and psychological repercussions for the whole of the UK.

    Scotland has always been the most autonomous of the UK’s three Celtic nations – with its own legal and education systems. But despite a 305-year-old political relationship with the U.K., a trend towards a different vision of Scottish politics has accelerated in recent years.

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  • Egypt’s Populist Problem – The Downside Of The Revolution: Mohsin Khan

    Egypt’s Populist Problem – The Downside Of The Revolution: Mohsin Khan

    Egypt’s political transition has had deep economic consequences. Though the country is now free of a repressive and tyrannical regime, the economy has entered into a steep decline, which threatens the main goals of the revolution. What’s more, Egyptian politicians now favour populist rhetoric; and unless the upcoming presidential elections can lead to economic stabilization and revival, Egyptians’ hard-won political gains may well be lost.

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  • Will The Arab Spring Cause Israel’s Natural Gas Supply To Run Dry?

    Will The Arab Spring Cause Israel’s Natural Gas Supply To Run Dry?

    Egypt supplies nearly 40 percent of Israel’s natural gas needs. Yet the cordial relationship, which both governments once enjoyed, has since broken down. To make matters worse, populist sentiments emanating from the Arab Spring are now calling for Cairo to revoke all sales of natural gas across their border.

    As last year's Arab spring has slowly roiled eastwards from Tunisia to the eastern Mediterranean, the two most concerned governments are the US and Israel, that are watching their carefully constructed defence alignments crumble to the populist forces unleashed.

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  • Papal Impropriety: The Dark Secrets Of The Vatican Bank

    Papal Impropriety: The Dark Secrets Of The Vatican Bank

    The Vatican Bank has been plagued by corruption and criminality ever since it was established in 1942. Yet this is hardly a surprise, given that no bona fide legal system is currently in place to ensure check and balances for the bank of God.

    The scandals surrounding the Vatican’s finances strain credulity. At the heart of the Catholic Church, we find murder, collusion with violent crime, bribery and money laundering.

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  • Iraq: Mixed Opportunities, Messy Outlook? (Part II: Not Quite A Dreamland Yet)

    Iraq: Mixed Opportunities, Messy Outlook? (Part II: Not Quite A Dreamland Yet)

    In part two of our feature on the Iraqi economy, we look at how the downfall of Saddam Hussein’s regime, and the subsequent introduction of the US, managed to shape Iraq’s oil industry and political scenario. Finally, we ask what the Iraqi government needs to do to ensure the nation’s future, particularly with the fate of its citizens at hand.

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  • Just What Is Russia’s Fracking Agenda In Bulgaria?

    Just What Is Russia’s Fracking Agenda In Bulgaria?

    Last month, the Bulgarian National Assembly voted to impose an indefinite ban on shale gas exploration and extraction in Bulgaria using hydraulic fracturing or other similar technology. But new evidence have emerged that may suggest some form of covert Russian influence in the matter.

    Pity the poor Eastern Europeans.

    After fifty years under the domination of their massive Soviet eastern neighbour, the collapse of Communism two decades ago offered undreamed of opportunities to join both the European Union and NATO.

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