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from The Great Debate:

Avoid a classic blunder: Stay out of religious wars in the Middle East

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Muslims in the Middle East are fighting wars of religion. Like the carnage between Protestants and Catholics that haunted Northern Ireland during the last third of the 20th century, there is little anyone can do until local peoples crave peace so intensely they are willing to cultivate it.

History shows that outside meddling only intensifies sectarian fury. Stopping internecine war begins at home. President Barack Obama imperils Americans by trying to excise an abscess that can be cured only from the inside out. The decision to re-engage in Iraq, and the wider Middle East, also contradicts the president’s other, bigger objective: to exit the nanny business.

Shi'ite Muslims attend Friday prayers at the Imam Hussein shrine in the holy city of KerbalaThe last time religious aggression swept an entire subcontinent was during the Reformation four centuries ago, when Christians hashed out their hatreds much as Muslims of the Middle East are doing today.

Islamic State, or as the president calls it, the Islamic State in Iraq and the Levant, is fighting to restore a caliphate. Catholics and Protestants spent decades warring over similar issues. Should all Christians accept the same religious doctrine? Should all nations be under the dominion of the pope?

from The Great Debate:

Obama is picking his targets in Iraq and Syria while missing the point

U.S. President Barack Obama makes remarks on the situation in Syria, in Washington

“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.”

Brooks is wrong. For starters, he misconstrues the core problem -- which is a global conflict pitting tradition against modernity.

from The Great Debate:

If U.S. joins Islamic State fight, how will it get out?

U.S. President Barack Obama delivers a statement from Martha's Vineyard, Massachusetts

When President Barack Obama makes the case for military action against Islamic State militants on Wednesday night, it won't be hard to convince Americans to get involved in the conflict. The hard part will be explaining how we get out.

The president is speaking to the American people -- not to Congress. He may not even ask Congress to authorize the use of force. Just to fund it. Which they will do because they don’t want to undercut the U.S. military.

from The Great Debate:

Israel appropriated 1,000 acres of the West Bank. Why now?

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Last week, Israel announced that it was appropriating nearly 1,000 acres of private Palestinian land near Bethlehem. The seizure, which one anti-settlement group called the largest in 30 years, was condemned by Palestinians, the United Nations, and criticized by the United States.

Israel has said that the move is retaliation for the June kidnapping and murder of three Israeli teenagers. Settlement has long been considered a fair response to Palestinian attacks by some parts of Israeli society, and appropriation of Palestinian land has been a consistent policy of every Israeli government since Israel became a state in 1948. In the West Bank alone, close to 250,000 acres were appropriated since 1979, using a legal mechanism based on an interpretation of Ottoman law.

from Jack Shafer:

What’s more rare — a unicorn or an Al Jazeera America viewer?

 A man works at a desk in the Al Jazeera America broadcast center in New York,

Al Jazeera America draws such a teensy audience -- 15,000 on average during prime time, according to Nielsen -- that if you dropped all of the fledgling cable news channel's viewers into a modern NBA arena you'd leave a couple of thousand vacant seats. To place Al Jazeera America's audience in perspective, it's less than half of that once attracted by Al Gore's Current TV, the channel it replaced last August. Ratings leader Fox News Channel pulls in an evening average of about 1.6 million.

Such miserable ratings would be understandable if Al Jazeera America produced its shows on a shoestring, as did Current TV, or if it marginalized itself by broadcasting bonkers propaganda like RT (formerly Russia Today), or if most cable households couldn't receive it.

from Expert Zone:

India’s Iraq problem

(This piece comes from Project Syndicate. The opinions expressed are the author's own)

Iraq seems to be falling apart, with the rapid advance of the militant Islamic State in Iraq and Syria (ISIS) threatening to lead to the country’s division into Shia, Sunni, and Kurdish entities, while blurring its border with its turbulent western neighbor. Moreover, the tumult is now threatening to spread to two more nearby countries, Afghanistan and Pakistan, which already are facing myriad internal challenges. For India, the message is clear: its national security interests are at risk.

from Breakingviews:

Biggest risk of geopolitics is as a distraction

By Edward Hadas

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Investors consider geopolitics the most important risk to financial markets over the next year. That judgment, reported in a Barclays survey this week, shows people taking greater cues from headlines than numbers.

from Breakingviews:

Iraq troubles are unlikely to bring new oil crisis

By Fiona Maharg-Bravo

The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

The continued violence in Iraq looks like a harbinger of a sharp cutback from the world’s seventh-largest oil producer. But the bulk of Iraq’s production is still secure. Even though the Middle East has clearly become less stable, it will still take a cascade of problems to create a big oil price shock.

from Global Investing:

Iran: a frontier for the future

Investors trawling for new frontier markets have of late been rolling into Iran. Charles Robertson at Renaissance Capital (which bills itself as a Frontier bank) visited recently and his verdict?

It's like Turkey, but with 9% of the world’s oil reserves.

Most interestingly, Robertson found a bustling stock market with a $170 billion market cap -- on par with Poland - which is the result of a raft of privatisations in recent years.  A $150 million daily trading volume exceeds that of Nigeria, a well established frontier markets. And a free-float of $30 billion means that if Iranian shares are included in MSCI's frontier index, they would have a share of 25 percent, he calculates.

from The Great Debate:

America’s long search for Mr. Right

What’s wrong with central casting? It’s a virtual truism: The United States always seems to pick the wrong guy to star as George Washington in some faraway civil war. We sell him weapons for self-defense against his despicable foes -- and then, sometimes before the end of the first battle, we find we are committed to a bad actor who bears an uncanny resemblance to Genghis Khan.

President Barack Obama just approved the sale of 24 Apache helicopters to the Iraqi government of Prime Minister Nouri al-Maliki -- despite well-founded concerns that Maliki may use them against people we do like as well as those we don’t.

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