Iranian officials met this week with their six-power counterparts to try to hammer out the outlines of a comprehensive nuclear deal set to last for several years. But its precise duration remains undecided.
from Anatole Kaletsky:
At last, the European Central Bank seems ready to inject some adrenalin into the moribund euro zone economy. After last week’s news conference, when European Central Bank President Mario Draghi strongly hinted that action would take place after the June 5 council meeting, there have been a host of interviews and leaks specifically describing the new ideas the bank has in mind.
from Ian Bremmer:
On the surface, Barack Obama’s recent Japan visit struck all the right chords for Tokyo. For the first time ever, an American president stated that the U.S.-Japan security treaty extends to the Senkaku/Diaoyu islands dispute, the most combustible geopolitical conflict between Japan and China. And Obama and Japanese Prime Minister Shinzo Abe announced a “key milestone” for negotiations on the Trans-Pacific Partnership (TPP), the trade deal that encompasses 12 countries and more than 40 percent of the world’s economic output.
Financial markets may view the latest sanctions against Russia as feeble, but the reaction from Moscow – Vladimir Putin threatened to reconsider Western participation in energy deals and his foreign minister, Sergei Lavrov, said they were the work of weak politicians – suggests otherwise.