No More Singing the Austerity Blues?
Deputy chancellor Sigmar Gabriel argued this week that it was time to turn the page on austerity policies. But there is little chance of him bringing about a change of course. Rather, the return of the Greek crisis has underlined how little influence Germany’s Social Democrats have shaping euro-saving policies.
The Nuclear Reality
“Nuclear disarmament” has always sounded better in theory than in practice. With more countries flexing their nuclear muscle – especially Russia – a more realistic strategy to manage nuclear arms is necessary. The West must fundamentally re-think means and ends.
Chasing a Chimera
The main cause of the conflict between Russia and the West lies in the internal legitimization deficit of Putin’s own system. A closer cooperation with Moscow’s Eurasian Economic Union (EEU) would not only undermine the EU’s values – the Kremlin is simply not interested. A reply to Mark Leonard’s and Ivan Krastev’s “The New European Disorder.”
Oil Price Collaterals
Since July 2014 the price of oil has been falling, and a new OPEC strategy pushed through by Saudi oil minister Ali Al-Naimi makes a reversal unlikely in the near future. OPEC felt obliged to defend its market share against US fracking firms and other “marginal producers.” The pain felt in Moscow, Tehran, and Caracas is an unintended – if not unwelcome – byproduct.