Unthinkable: Conflict between Israel and Iran
The guessing game as to whether sanctions imposed last month against Iran for its nuclear program will work is over. They are already working. This past week the Iranian foreign minister, Ali Akbar Salehi, struck a notably conciliatory tone as…
Europe Faces a Two-headed Monster of Debt and Oil
It looks as though we have a deal between Greece and its private-sector creditors, and not a moment too soon. The announced agreement over the weekend ended months of handwringing and protracted talks between the government of Greek Prime Minister…
Eurozone to Greece: Cut a Deal or No Bailout
After the historic, defend-the-euro deal cut among European Union members last month, the question now seems to be who, if anyone, will blink first—political leaders in Greece as they impose more austerity, international lenders, or the bondholders now negotiating what…
Sanctions: Will Iran Redouble Its Nuclear Efforts?
Iranian oil, American diplomacy, and Asian economic power combined last week to yield a highly unstable, potentially combustible cocktail. The American economy and the financial markets have much to be thankful for so far in 2012, particularly as we look…
Reengineering Defense: Good, but Not Good Enough
At last, Americans can now say, we have broken the habit of preparing for the last war. The strategic defense initiative President Obama unveiled late last week is every bit the departure from previous practice that Obama and Defense Secretary…
Iran Sanctions: Another Cuban Missile Crisis?
And two more hotspots: Iraq and Egypt Is 2012 destined to be a year of Middle East challenges—not to say calamities—for the Obama administration? It has certainly started out ominously. The White House already has three fires to put out…
Five Things that Worked in 2011 Foretell 2012
2011 will go down as a good year for very few of us. Suspense, crisis, loss, frustration, and anxiety seemed to lie everywhere one turned. What better time to remind ourselves of a few developments during the year that are…
The War in Europe Escalates—No Guns, Just Butter
It took exactly two days for European markets to cast a negative vote on the agreement eurozone countries reached in Brussels last week. It took a couple more for the eurozone countries to begin bickering with Britain, that is isolated…
Britain is Odd Man Out in Europe’s ‘New Deal’
You cannot fault the Europeans for their timing. The agreement reached in Brussels on the euro last Friday came 20 years to the day after European leaders signed the treaties that created the single currency. And the pact euro zone…
Euro Zone Debacle: This Week Could End the Crisis
This could well be the week the eurozone crisis advances toward a credible resolution. We have heard this before, so it is too soon to exhale, but if all goes according to plan, a way through Europe’s currency and economic…
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