The Economist has an interesting analysis of the future of the euro, and how possible elections in Greece, Spain, and Portugal could upset the consensus in favor of the European Union. There is little doubt that the political landscape in Europe has turned against the EU, but there is no coherent vision of how to proceed outside of the union framework. The risk to the global economy of a European meltdown appears to becoming greater as time goes by.
The Irish Parliament and the French upper-house of Parliament have passed non-binding votes to recognize Palestine as a state. The moves follow Sweden’s decision to recognize Palestine, and are an index to the extent to which sentiment in Europe is swinging in favor a a negotiated two-state settlement. Unfortunately, the decision by Israeli Prime Minister to call early elections suggests that he is interested in pursuing a one-state solution to the crisis.
The Hong Kong government has cleared out most of the protesters from the streets of Hong Kong. But it would be a mistake to think that the protests are over. The protesters have apparently made a tactical decision to change the nature of their protests and have not given up on their strategic goal of ensuring citizen participation in the selection of political candidates in the government. It will be interesting to see how the protests morph–it will certainly send a message to protesters all over the world.
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