The Great Debate

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The Russian sanctions information gap

By Steven Brill
July 29, 2014

Emergencies Ministry member walks at the site of a Malaysia Airlines Boeing 777 plane crash near the settlement of Grabovo in the Donetsk region

There are so many gaps in the reporting about the effort to use economic sanctions against Russia to get President Vladimir Putin to pull back support for the Ukraine separatists that it makes sense to devote my whole column this week to listing them.

Sanctions finally find Russia’s Achilles heel

By William E. Pomeranz
July 23, 2014

Russia's President Vladimir Putin gestures as he chairs a government meeting at the Novo-Ogaryovo state residence outside Moscow

Russian President Vladimir Putin and President Barack Obama were reportedly engaged in a heated telephone conversation last Thursday when Putin noted in passing that an aircraft had gone down in Ukraine. The tragic crash of the Malaysian airliner in rebel-held eastern Ukraine continues to dominate the headlines, but it is important to remember what agitated Putin and prompted the phone call in the first place — sanctions.

from Anatole Kaletsky:

How EU politics pushed Merkel to lift Germany’s austerity policies

By Anatole Kaletsky
July 4, 2014

German Chancellor Merkel and Luxembourg's Prime Minister Juncker hold a joint news conference after a meeting in Luxembourg

Matteo Renzi, the prime minister of Italy who took the revolving presidency of the European Union this week, seems to be the sort of man that Napoleon was referring to when he reputedly said that the key qualification he sought in recruiting a general was good luck.

from Anatole Kaletsky:

World War One: First war was impossible, then inevitable

By Anatole Kaletsky
June 27, 2014

British troops advance during the battle of the Somme in this 1916 handout picture

Why does the assassination of Archduke Franz Ferdinand -- the event that lit the fuse of World War One 100 years ago Saturday -- still resonate so powerfully? Virtually nobody believes World War Three will be triggered by recent the military conflicts in Ukraine, Iraq or the China seas, yet many factors today mirror those that led to the catastrophe in Sarajevo on June 28, 1914.

No matter what Putin says — Russian people have no appetite for war

By Matthew Rojansky and Kenneth Yalowitz
June 25, 2014

People attend a rally called "We are together" to support the annexation of Ukraine's Crimea to Russia in Red Square in central Moscow

Russia and the West are again at odds, eying each other with suspicion over Moscow’s annexation of Crimea and support of armed separatists in Eastern Ukraine. Basic rules of the game for security, stability and prosperity in Europe and beyond are at stake. Some commentators are calling this a “new Cold War.”

from Hugo Dixon:

EU needs more non-bank finance

By Hugo Dixon
June 2, 2014

The European Union needs more non-bank finance. Banks are on the back foot. On their own, they won’t be able to fund the jobs and growth the EU is desperate for. Non-bank finance needs to take up the slack.

Meet the Tea Party — European edition

By Bill Schneider
May 27, 2014

schneider combo

Europe finally has its own Tea Party. Or something like it.

Last weekend, citizens of 21 nations elected members of a new European parliament. The result? An outpouring of rage.

Europe is under siege from both the left and right

By Matt Browne
May 22, 2014

eu combo

Elections will begin on Thursday across the 28 European Union member states to elect national representatives to the European Parliament, which regulates trade, borders and some elements of foreign policy. Though this is a continent-wide election, voters historically use it to send a message to their own nation’s governing party. With the meteoric rise of anti-European populism on the political left and right, however, things promise to buck that trend this time.

from Anatole Kaletsky:

Why the Russian sanctions don’t work

By Anatole Kaletsky
May 1, 2014

putin!!

Why did the U.S. and European sanctions against Russia earlier this week trigger a rebound in the ruble and the Moscow stock market?

Don’t cry for the Nabucco pipeline

By Leslie Palti-Guzman
May 1, 2014

The site of a newly opened distribution hub of the gas pipeline Gazelle is pictured in Primda

It is too late for regrets. With Europe worried that Moscow could cut off gas deliveries to Ukraine, which would trigger price volatility and supply risks throughout the continent, the failure of the Nabucco pipeline project stands out.