European Union

Restructuring Sovereign Debt: Time for Action

By Susan Schadler

The gap between market expectations of sovereign debt restructurings and official non-discussion of institutional arrangements for restructuring is wide.  While markets are pricing a substantial default risk for Greek, Irish, Portuguese and even Spanish bonds, the financial policy debate is squarely focused on the causes of the last crisis. Arrangements for dealing with the likely […]

EU runs major cyber-war exercise

By the European Union

From the European Union:  Europe’s cyber security experts are testing their responses today in the first ever pan-European cyber-attack simulation exercise.

Avoiding the Next War in the South Caucasus

By Borut Grgic, the Wall Street Journal

NATO Sees Threats, but Is Reluctant to Say Just Who the Enemy Might Be

By Steven Erlanger, the New York Times

From Steven Erlanger, the New York Times:  NATO’s secretary general expects two headlines out of this month’s annual summit meeting in Lisbon: an agreement to build an alliance-wide missile defense system, and NATO’s own “reset” with Russia

Turkey not partner but owner of NATO, FM says

By Fulya Ozerkan, Hurriyet

From Fulya Ozerkan, Hurriyet:  Turkey is not a partner, but an owner of NATO, Foreign Minister Ahmet Davutoğlu said Saturday, adding that an agreement within the multi-national alliance is as important as an accord within the European Union. Speaking to a small group of journalists en route from Xi’an to Shanghai as part of his weeklong […]

Closer Anglo-French cooperation will make NATO stronger

By Liam Fox, the Telegraph

From Liam Fox, the Telegraph:  [T]his week will mark the beginning of a long-term commitment to closer cooperation on defence and security projects with France our most important bilateral defence relationship in Europe. The aim of this week’s summit will be to strengthen the relationship at all levels and foster closer cooperation in a number […]

US and Turkey clash looms over Nato

By the Financial Times

From the Financial Times:   The US and Turkey are trying to stave off a clash at next month’s Nato summit after a year in which Ankara’s traditional ties to the west were strained.

Russian General Staff chief to attend EU Military Committee meeting

By RIA Novosti

From RIA Novosti:  The chief of the Russian General Staff, Army Gen. Nikolai Makarov, will take part in a meeting of the European Union Military Committee

Save NATO: Merge it with CSDP

By Sarwar Kashmeri, the New Atlanticist

From Sarwar Kashmeri, the New Atlanticist:  NATO Secretary General Anders Fogh Rasmussen would like to see NATO become a hub for an anti-missile shield with Russia that protects everyone from Vladivostok to Vancouver.

Economist: “The German question never dies”

By the Economist

From the Economist:  Its sharp-elbowed behaviour during the near-collapse of the euro earlier this year heightened concerns about Germany’s role in the world that have been stirring ever since unification 20 years ago.