International investors immediately sought refuge in the U.S. dollar, just as they had done during the 2008 financial crisis, and the U.S. Federal Reserve had to make huge sums of dollars available to its global counterparts. Seventy-five years after the end of World War II, the primacy of the dollar has not waned.
On the continent, most consider the British decision to leave a tragic mistake. Even so, the Brexiteers’ core contention—that the European Economic Community they joined in 1973 has grown far beyond an international union of sovereign states and into something far more ambitious and intrusive—is hard to deny.
Faced with an increasingly powerful and authoritarian China, global warming, the potentially existential challenge of AI, not to mention an aggressive Russia, chaotic Middle East and Trumpian United States, this argument is more compelling than ever. In a world of giants, you need to be a giant yourself. If we Europeans don’t hang together, we will hang separately.
In the heady aftermath of the Cold War, American policymakers pronounced one of the fundamental concepts of geopolitics obsolete. Secretary of State Condoleezza Rice described a new world “in which great power is defined not by spheres of influence . . . or the strong imposing their will on the weak.” Secretary of State Hillary Clinton declared that “the United States does not recognize spheres of influence.”
We are going through what by every measure is a great crisis, so it is natural to assume that it will prove to be a turning point in modern history. In the months since the appearance of COVID-19, the disease caused by the novel coronavirus, analysts have differed over the type of world the pandemic will leave in its wake.
On March 18, the European Central Bank announced that it will buy an additional 750 billion euros’ worth of European corporate and government bonds this year. That means the ECB will spend a total of 1.1 trillion euros on eurozone bonds over the next nine months, the most it has ever spent on assets in so short a period of time.
Θα έχουμε πολλές «Θερμοπύλες» μπροστά μας ως χώρα. Η ηγεσία είναι στοιχείο απαραίτητο και, ευτυχώς, το έχουμε στον τόπο μας σήμερα. Οι «Θερμοπύλες» όμως, είτε στις εντατικές είτε στον Εβρο, δεν κρατούν χωρίς τους ήρωες της πρώτης γραμμής καλοπληρωμένους, καλά εξοπλισμένους και με μια κοινωνία στοιχισμένη πίσω τους!
In Hungary, the prime minister can now rule by decree. In Britain, ministers have what a critic called “eye-watering” power to detain people and close borders.
Travel bans and social distancing prompt changes to politics as usual — and fears of executive overreach. By DAVID M. HERSZENHORN
Εδώ και σαράντα χρόνια ο κόσμος άρχισε να αλλάζει· σημεία αναφοράς η εκλογή της Θάτσερ στην Αγγλία και του Ρίγκαν στις Ηνωμένες Πολιτείες, η άνοδος του Ντενγκ Σιαοπίνγκ στην εξουσία στην Κίνα, η εμπλοκή της Σοβιετικής Ενωσης στο Αφγανιστάν, η εγκατάσταση του Ιωάννη Παύλου Β’ στον παπικό θρόνο.
After World War I, the Kurds were left without a state of their own, ending up spread across Turkey, Syria, Iraq and Iran. As ethnic minorities in these states, Kurds frequently faced repression. Against that backdrop, a militant group, the Kurdistan Workers' Party (PKK), emerged seeking a Kurdish state within Turkey. (It now calls for greater autonomy in the country.)
In theory, Greece should be an olive oil superpower. It is not only the world’s third biggest producer, but an unusually high percentage of its oil is of the highest grade: extra virgin.