There is incredible pressure building on the EU in anticipation of this coming week’s summit meeting of EU heads of state. Economic data from China, India, Brazil, and the US all indicate that the global economy is slowing down much faster than expected. Since many of the EU economies are dependent on exports, there is a sense that European economic growth will slow as well. The EU needs to articulate a long-term plan that seems feasible in order to avoid increased pressure on the weaker economies such as Greece and Spain. The new Greek Prime Minister will not be at the meeting due to eye surgery, but the Greeks still intend to ask for a two year extension on its bail-out conditions.
Mohammed Morsi, the Muslim Brotherhood candidate, was named the victor in the Egyptian presidential election. The official announcement confirms what many people had suspected, and an announcement in favor of Shafiq would have been highly controversial. In his first speech, Morsi said all the right things. What remains to be seen, however, is how he can govern under the current strictures of military rule.
Turkey has requested a NATO meeting to discuss its downed fighter jet. The injection of NATO into the Syrian situation ushers in a new phase of the attempt to put together a humanitarian intervention. NATO could offer a viable alternative to the UN mission, currently hamstrung by the Russian and Chinese positions. We’ll see whether NATO official wishes to take the opportunity.
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