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from MacroScope:

Jaw jaw and war war

An Ukrainian serviceman is seen next to a sight for a gun near the eastern Ukrainian town of Luhansk

Pro-Russia separatists at talks with representatives from Moscow and the OSCE in Minsk said they would be prepared to stay part of Ukraine if they were granted "special status", which is unlikely to be acceptable to Kiev.

The talks will continue later in the week and come as the Ukrainian military faced a run of reverses on the battlefield which Kiev says have been engineered by the intervention of at least 1,600 Russian combat troops.

In the latest in a string of setbacks, Ukraine's military said it had pulled back from defending a vital airport near the city of Luhansk, where troops had been battling a Russian tank battalion. Ukrainian President Petro Poroshenko accused Russia of "direct and undisguised aggression" which he said had radically changed the battlefield balance. Moscow denies it is involved.

All that means the United States and EU must surely toughen their sanctions on Russia although several EU countries heavily dependent on Russian gas, including the Czech Republic, Slovakia and Austria, are opposed to new measures, which require unanimous agreement.

from The Great Debate:

Peace may be the true threat to Hamas, Israel’s leaders

Relatives of a Palestinian woman, who medics said was killed in an Israeli air strike, mourn during her funeral in Khan Younis

It’s time to wonder whether Israel and Palestine will ever be able to move out of the moral abyss into which they’ve plunged themselves, and address the threat of peace.

“Threat” is the right term. Because peace is dangerous for leaders in the Middle East.

from MacroScope:

Euro zone recovery snuffed out

A BMW logo is seen the wheel of a car in Mexico City

A glut of euro zone GDP data is landing confirming a markedly poor second quarter for the currency area.

The mighty German economy has shrunk by 0.2 percent on the quarter, undercutting the Bundesbank’s forecast of stagnation. Foreign trade and investment were notable weak spots and the signs are they may not improve soon.

from MacroScope:

All eyes on Putin

Russia's President Vladimir Putin talks to reporters during a meeting in Brasilia

Russian President Vladimir Putin will meet his top security officials prior to visiting annexed Crimea on Thursday with members of his government.

One way or another, with Ukrainian government forces encircling the main pro-Russian rebel stronghold of Donetsk, matters are coming to a head. Putin must decide whether to up his support for the separatists in east Ukraine or back off.

from MacroScope:

Moment of truth in Ukraine

A Ukrainian serviceman guards a checkpoint near Donetsk

Financial markets perked up on Monday after Russia called off military exercises near the Ukraine border but was the confidence well founded?

NATO’s chief told Reuters there was a "high probability" Russia could launch an invasion of Ukraine where the government said it was in the "final stages" of recapturing Donetsk, the main city held by pro-Russian rebels, a battle that could be a decisive turning point in the biggest confrontation between Russia and the West since the Cold War.

from MacroScope:

End game in east Ukraine?

A Ukrainian serviceman sits on a military armoured vehicle near Donetsk

Ukrainian government forces say they are preparing for the final stage of recapturing the city of Donetsk from pro-Russian separatist rebels after shelling its outskirts and making significant gains over the weekend.

The city faces increasing shortages of food, water and electricity. Vladimir Putin must now decide whether to leave the rebels to their fate or step up his support.  Kiev said on Saturday it had headed off an attempt by Russia to send troops into Ukraine under the guise of peacekeepers accompanying a humanitarian convoy sanctioned by the Red Cross. Moscow dismissed the allegation as a "fairy tale".

from John Lloyd:

The less well Muslims and Jews actually know each other, the more hatred grows

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In the small town of San Dona di Piave near Venice last Friday, an imam, Raoudi Albdelbar, asked Allah to, "Kill them all (the Jews), down to the last one; make poison of their food; transform the air that they breath into flames, and put terror in their hearts.” The imam was so proud of his sermon that he made a video of it and posted it on his Facebook page -- from where it went viral. Earlier this week, Italian antiterrorist police showed up and arrested the imam on charges of inciting violence, and began the process of expelling him to his native Morocco.

There's a doleful, five-century-old parallel to the iman’s prayer. In his “Trials of the Diaspora,” Antony Julius, a polymath British lawyer, has taken Shylock’s trial in the Merchant of Venice as the ur-trial of diaspora Jews, seeing in it a subtle re-imagining of the old blood libel. In Shylock's pitiless pursuit of a pound of flesh cut from the merchant Antonio's body, Julius detects another instance of Jews seeking Christian blood.

from MacroScope:

When Mario met Jean-Claude

European Central Bank President Draghi and Eurogroup President -Juncker talk during a news conference in Nicosia, Cyprus

A day before the European Central Bank’s monthly policy meeting, ECB President Mario Draghi will travel to Luxembourg for talks with incoming European Commission president Jean-Claude Juncker. Oh to be a fly on the wall.

Some in the ECB are concerned that ultra-low sovereign borrowing costs and Draghi’s “whatever it takes” promise has relieved pressure on euro zone governments to carry on with structural economic reforms.
Juncker has signalled he is comfortable with a Franco-Italian drive to focus on growth and job creation rather than cutting debt.

from The Great Debate:

Israel’s Iron Dome missile-defense system is an ironclad success

An interception of a rocket by the Iron Dome anti-missile system is seen above Sderot

While the troops of Israel's Air Defense Command are blasting Grad and Fajr rockets shot from Gaza out of the sky with success, there are an obsessive few who try to blast Iron Dome's evident achievements into oblivion. They insist on trivializing the missile-defense system’s rock-solid record because the facts don’t fit their theory that no missile defense system can ever work.RELATED COLUMNS David Axe: Israel's Iron Dome is more like an iron sieve EDITOR: Two views of Iron Dome's success in IsraelThe chief Iron Dome scold is Ted Postol of Massachusetts Institute of Technology, a professor with academic standing but no experience in designing or managing the development of modern missile systems. He postulates that missile defense is innately belligerent and as quixotic as "the idea that a nuclear war can be won" but admits that the public would not  readily agree with his views. He casts missile defense as irretrievably faulty and wasteful, with Iron Dome -- the product Israeli technical savvy and U.S. defense funds -- squarely in his sights.

Judging from grainy YouTube downloads of Iron Dome interceptions that show mostly indistinct windswept smoke trails and blast clouds, Postol infers that the majority of the interceptors over Israel have missed their targets. But none of the images show the targeted rocket. He relies on his own calculations on how Iron Dome ought to work.

from MacroScope:

The Scottish question

First Minister of Scotland Alex Salmond smiles as he watches a diving event at the 2014 Commonwealth Games in Edinburgh

Scottish nationalist leader Alex Salmond and former British finance minister Alistair Darling, who is fronting the campaign to remain part of the United Kingdom, go head-to-head in the first and possibly only live television debate of the campaign. It is a bigger moment for Salmond, Scotland’s First Minister, who must garner a shift in the polls which consistently put his “Yes” campaign significantly behind with the referendum only six weeks away.

At the last British general election, Liberal Democrat leader Nick Clegg was widely perceived to have won the leaders’ debates yet it didn’t translate into votes. There are, however, a large number of “don’t knows” to play for in Scotland and Salmond is by common consent the more charismatic figure and slick orator.
During the two-hour debate, Darling is likely to highlight the uncertainty over whether an independent Scotland could retain the pound and automatically be part of the EU and how the nationalists would fund their public spending pledges.

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