If the law was the ultimate arbiter, the European Central Bank would have the most verdant of green lights for an unlimited bond-buying programme with new money. In reality, politics and German concerns will dictate.
Two vital gauges of euro zone progress, or lack of it, today.
German inflation for November is forecast to slip to 0.6 percent and will cue up the euro zone figure on Friday, which is predicted to come in at just 0.3 percent. Spanish inflation, due earlier, is forecast to come in at -0.3 percent.
After Germany's foreign minister saw "no reason for optimism" after talks in Moscow on Tuesday, today Hungary’s Peter Szijjarto meets Russian Foreign Minister Sergei Lavrov. Violence is on the rise again in eastern Ukraine and tougher sanctions against Russia remain a live possibility although EU foreign ministers limited themselves to targeting a few more Ukrainian separatists earlier this week.
On Sunday, June 22, 1941, Winston Churchill’s private secretary, John Colville, woke him with the news that Nazi Germany had invaded the Soviet Union. In a radio address that same evening, the British prime minister repeated his “consistent” opposition to communism, but said that “all this flashes away … the Russian danger is therefore our danger.” In a later House of Commons debate, Churchill quipped -- “If Hitler invaded Hell, I would at least make a favorable reference to the devil in the House of Commons.”
“We are now living in what we might as well admit is the Age of Iraq,” New York Times op-ed columnist David Brooks recently wrote. There, in the Land of the Two Rivers, he continued, the United States confronts the “core problem” of our era -- “the interaction between failing secular governance and radical Islam.”
1. Inside Qatar: the terrorists’ benefactor and America’s friend
As the war in Gaza continues, we keep hearing that one pipeline for negotiations with Hamas goes through Qatar, the tiny, oil-rich kingdom in the Gulf that has friendly relations with Hamas. In fact, Qatar hosts the leaders of Hamas and provides financial support.
Cairo’s efforts to mediate between Israel and the Palestinians in Gaza, according to conventional wisdom, have largely been dictated by President Abdel Fattah al-Sisi’s animosity toward Hamas. After all, Hamas is an offshoot of the Muslim Brotherhood, which Sisi’s government has declared a terrorist organization and regards as a serious threat.