Reuters blog archive
from The Great Debate:
Back when most of today's Western decision-makers were in college, Sting had a hit song with “Russians.” It began:
In Europe and America, there's a growing feeling of hysteria
Conditioned to respond to all the threats
In the rhetorical speeches of the Soviets
Mr. Khrushchev said we will bury you
I don't subscribe to this point of view
It would be such an ignorant thing to do
If the Russians love their children too
It sometimes seems that most Western analysis of Russia has the sophistication of this song.
The simplicity of the idea that all humans are essentially the same, and that a common understanding is thus always within reach, is seductive. Its appeal stems from the fact that few things are harder than knowing someone whose views of the world are profoundly different from yours. This is why it has been so difficult for a veritable army of Western experts to explain or predict Russian President Vladimir Putin's behavior.
Since Russia annexed Crimea in March, a narrative has emerged in the West that seems to provide a basis for understanding and negotiating with Putin. According to it, Russia is pursuing its strategic interest in keeping Ukraine unallied with the West because it needs a “buffer zone” between itself and members of North Atlantic Treaty Organization.
from The Great Debate:
Since Russian troops seized Ukraine's strategic Crimean peninsula in late February, and separatists backed by Russian President Vladimir Putin began waging a bloody insurgency in the country's east, the North Atlantic Treaty Organization has walked a fine line.
The transatlantic military alliance has sent hundreds of troops to Ukraine to train alongside Kiev's forces. But at a major summit in early September, NATO declined to offer Ukraine membership. The alliance doesn't really want to go to war over Ukraine.
Barack Obama is in Estonia before the NATO summit in Wales intending to pressure Vladimir Putin to back off in Ukraine. The rhetoric will be strong – not least about protecting the Baltics under NATO’s umbrella.
But with zero chance of western military action in Ukraine the hope is that economic pain via sanctions will bring Moscow to heel. Existing sanctions are clearly hurting the economy – the rouble has plumbed record lows as capital flees or shuns the country – but that hasn’t stopped Putin so far.
A reported 0300 GMT deadline, which Russian forces denied had been issued, for Ukraine’s troops to disarm in Crimea or face the consequences has passed without incident and in the last hour President Vladimir Putin has ordered troops that took part in military exercises in western Russia to return to base.
That has helped lift the euro but the situation remains incredibly tense. Russia’s stock market is up a little over two percent and the rouble has found a footing but they are nowhere near clawing back Monday’s precipitous losses.
from Global Investing:
Fund managers searching for yield are increasing exposure to frontier markets (FM) as a diversification from emerging markets (EM), as the latter have been offering negative relative returns since January, according to MSCI data.
Barings Asset Management said on Monday it plans to launch a frontier markets fund in coming weeks, with a projected 70 percent exposure to frontier markets such as Nigeria, Saudi Arabia, the UAE, Sri Lanka and Ukraine.
from Photographers' Blog:
By Ints Kalnins
Going to the sauna is an ancient tradition in Estonia. Almost every home owner has at least a small sauna in his/her house or backyard.
Going to a sauna has always been important for socializing, even in ancient times.
from Left field:
It wasn’t just Irish eyes that were smiling when the Euro 2012 playoff draw was made in Polish city of Krakow - some of the Football Association of Ireland (FAI) delegation appeared to be laughing out loud when they were drawn to face Estonia, with the winner heading to next year’s finals.
But despite the protestations of coach Tarmo Ruutli, Ireland probably represents the best possible draw for the Estonians, given that the other alternatives were Portugal, Croatia or the Czech Republic.
from Left field:
The Euro 2012 two-legged playoffs should offer plenty of action and eight entertaining matches, with the last four berths in next year's finals up for grabs.
While Ireland will start as strong favourites against Estonia, the other three ties appear set to be nerve-jangling affairs in which two former Yugoslav repubics will be eager to avenge painful defeats against their respective opponents, while another is aiming to make history in only their second tournament as an independent nation.
from Global News Journal:
Most people would agree that the European Union and the euro single currency are part of a grand political and economic vision. But at times they are also a bit of a numbers game.
As Greece has shown with its less-than-reliable economic statistics, numbers can be fiddled to get budget deficits and debts down and meet the criteria to join the euro.
from Left field:
After the nightclub fracas that toppled a Mongolian grand champion from grace who would have thought it would take a former bouncer from Estonia to help clean up the mess in the troubled world of sumo?
The soft-spoken giant Baruto gave the ancient Japanese sport a shot in the arm after sealing his promotion to the sport's second highest rank of "ozeki" with a 14-1 showing at the spring grand sumo tournament less than two months after "yokozuna" Asashoryu quit in disgrace amid a "booze rage" probe.