Reuters blog archive
from The Great Debate:
Like most artists, I often wonder what art’s place is in a world that seems consumed by violence during these times of social upheaval.
It frequently seems like hell is breaking loose in the world while I work in the serenity of my art studio in New York. Like most people, I’d rather believe that what takes place outside of my comfort zone is only a fiction, that the terrible images and footage of people suffering are all fabricated. However, my daily conversations with my mother in Tehran are my constant reminder of how removed I am from reality. Indeed it is I who lives in a fiction, not them.
When the Rauschenberg Foundation invited me two years ago to develop an art project with a humanitarian focus, and donate profits to charity, I jumped at the challenge. I assumed I would make another conceptual project with some footing on socio-political reality.
I chose Egypt because it is a country I have grown to love, both from afar and in person. I have observed and experienced its journey into a revolution with great promise, and then a devastating aftermath of violence, bloodshed and tremendous human loss.
from The Great Debate:
The world powers in November reached an interim deal with Iran to freeze and even roll back a portion of its nuclear program in exchange for some sanctions relief. The arrangement went into effect on Jan. 20 and is set to expire in six months. Another interim deal may be signed then, according to the agreement's "Joint Plan of Action," but the proposal calls for a comprehensive long-term solution by late January, 2015.
Though Iran is often painted as the only party at fault here, the situation is far more complicated. The International Atomic Energy Agency (IAEA) and even some of the “P5+1” powers -- the five permanent members of the United Nations Security Council, the United States, Britain, France, Russia and China, plus Germany -- that are now negotiating with Iran, are also guilty of misconduct and unprofessionalism.
from The Great Debate:
The shale surge has boosted production by 50 percent for oil and 20 percent for gas over the last five years. Yet our political leaders are only just beginning to explore how it can help further national strategic interests.
Day one in Davos showed the masters of the universe fretting about Sino-Japanese military tensions, the treacherous investment territory in some emerging markets and the risk of a lurch to the right in Europe at May’s parliamentary elections which could make reform of the bloc even harder.
Today, the focus will be on Iranian President Hassan Rouhani (and his main detractor, Israel’s Netanyahu). Presumably he’s there to woo the world of commerce now sanctions are to be relaxed in return for Tehran suspending enrichment of uranium beyond a certain level. Anything he says about Syria’s peace talks, which have so far been more hostile than conciliatory, will instantly be headline news.
from David Rohde:
The United States won a short-term diplomatic victory over Iran this week. Under intense pressure from American officials, U.N. Secretary-General Ban Ki-moon withdrew an invitation for Iranian officials to attend the Syria peace conference.
Disinviting Tehran is the latest example of the Obama administration’s continual search for easy, risk-free solutions in Syria. As the conflict destabilizes the region, however, Washington must finally face the hard choice: Either compromise with Iran, or decisively support and arm the rebels.
Lots of action in Switzerland today with the annual get-together of the great and good at Davos getting underway and Syrian peace talks commencing in Montreux.
On the latter, few are predicting anything other than failure, a gloom that Monday’s chaotic choreography did nothing to dispel.
U.N. chief Ban Ki-moon Ban first offered Iran a seat at the table, prompting a threat to pull out by Syrian opposition groups which led to Washington demanding the invitation to Tehran be withdrawn. In the end, Ban did just that.
A landmark deal curbing Iran’s nuclear programme in return for a loosening of sanctions appears to be underway, an agreement intended to buy time for a permanent settlement of a decade-old standoff.
Under the deal, Iran must suspend enrichment of uranium to a fissile concentration of 20 percent. An Iranian official has just said Tehran will start its suspension of uranium enrichment up to 20 percent in a few hours.
from David Rohde:
By design or accident, it is increasingly clear that the centerpiece of President Barack Obama’s second-term foreign policy is a nuclear agreement with Iran. Whether Obama can succeed, however, now depends on Congress staying out of the negotiations.
Over the last few weeks, 16 Democratic senators have supported a bill that would impose new sanctions on Iran over its nuclear program. They have defied the White House’s intense campaign to block Congress from adding new conditions to any deal.
The European Central Bank held a steady course at its first policy meeting of the year but flagged up the twin threats of rising short-term money market rates and the possibility of a “worsening” outlook for inflation – i.e. deflation.
The former presumably could warrant a further splurge of cheap liquidity for the bank, the latter a rate cut. But only if deflation really takes hold could QE even be considered.
Sabine Lautenschlaeger, the Bundesbank number two poised to take Joerg Asmussen’s seat on the executive board, breaks cover today, testifying to a European Parliament committee. A regulation specialist, little is known about her monetary policy stance though one presumes she tends to the hawkish.
Ask investors about their minimum criteria when putting money into a country and rule of law comes pretty high. That’s one of the reasons why Turkey’s corruption scandal, and the reaction of the government in ousting hundreds of police officers, is so serious. The lira touched a record low on Thursday.
Today, parliament's justice commission will debate a draft law reforming the High Council of Judges and Prosecutors, which makes judicial appointments. Critics of the bill say it will give the justice minister significant influence over appointments, describing it as anti-constitutional and undermining the separation of powers.