President Obama gave a very important speech in Israel today. There is much in the speech with which one could disagree–indeed, I doubt that anyone could give a speech on the Israeli-Palestinian conflict that would not elicit some disagreement. But there was a carefulness and soberness in the speech that deserves careful consideration. His defense of a viable Palestinian state and how necessary it is to the moral survival of Israel was incredibly powerful. Let us hope that others think deeply about his insight.
The banking situation in Cyprus continues to deteriorate, but the reaction of the world remains muted. There is the world of reality here (Cyprus is so small that its collapse will have very little effect) and a world of perception (the global banking system has been on the rocks since 2008 and Cyprus might be the last straw). How the world finally interprets the crisis will depend largely on how visible it becomes. If protests break out on the island, then people will become much more concerned than they are right now.
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