David Rothkopf, one of the more insightful analysts of the global economy, has a very good piece warning us to not think about “Europe” as a monolithic whole as the economies of some countries in Europe begin to unwind. His advice is highly pertinent as we begin to think about the ways we could have addressed the credit problems since 2007 that might have been less catastrophic than the ones chosen.
The Greeks have chosen Lucas Papademos as their new Prime Minister. The choice of a non-political person is deliberate: Papademos was chosen for his presumably “technocratic” approach to solving problems. The assumption is that because he is not an active politician that he can govern “above the fray” as the Greeks adopt the austerity measures demanded by the Troika. The hope is sincere but probably naive. Papademos will be governing a nation that will be adopting a very severe set of politics. Governing is easy when things are going well; governing under the current conditions in Greece is like walking through a minefield.
Peter Apps of Reuters speculates on the possible global repercussions of an economic collapse within Europe. His prediction of greater unilateralism is one that should be taken seriously. Once the hegemonic system begins to unravel, many states will prefer to go-it-alone rather than take the risks implicit in cooperation.
The Carnegie Endowment has released a very good analysis of the current information we have about the Iranian nuclear program. It’s very detailed, so I will not ask any questions on the quiz about the report. But for those interested in the issue it is a worthwhile read.
World Politics News 