Yasou: Greece Is Pulling Off an Amazing Recovery

This chart tells a remarkable story. Just two years ago, Greece was on the ropes. The yield on the Greek government’s 10-year debt hit a punishing and unsustainable 30 percent. Today the yield is less than 7 percent—a sign that investors are increasingly confident of the nation’s ability to pay its debts. Rarely has a country repaired its image with creditors so quickly. The world’s attention has moved on since the Greek debt crisis (a lot has happened since), but it’s worth stopping for a moment to look at what went right, as well as the huge challenges that remain.

The Social Impact of Migration and the Notion of Citizenship for the EU Ensuing challenges and opportunities for the Union

Elspeth Guild

The European Union is currently suffering a minor identity crisis. Let us hope that this
episode will pass rapidly, but for the moment it is causing headaches for civil servants
in the EU institutions and the member states as well as uncertainty and a little anxiety
among EU citizens and third-country nationals in long-term residence in the EU. The
problem is that some member states are no longer sure that all EU citizens should be treated
equally – the fundamental claim of citizenship dating from the 1789 French revolution –
while others are outraged that their citizens might be treated as less equal EU citizens than
others.

Reluctant Monetary Leaders? The New Politics of International Currencies

Will the US Dollar lose its privileged status as the international reserve currency? Eric Helleiner doesn’t think so. That’s because the consequences of assuming reserve currency status are sufficiently uncertain that they might deter rival powers from pushing their own currencies as an alternative.

The West and Russia: Why Obama's Legacy Hinges on Europe

REUTERS

 Sebastian Fischer

US President Barack Obama's foreign policy legacy is in European hands.

Barack Obama has labeled Russia a "regional power" that is acting out of weakness rather than strength. That may be so. But the US president's own foreign policy legacy depends heavily on Vladimir Putin -- and Europe.

Barack Obama is has a reputation for extreme rationality -- or for being coldly calculating, depending on the viewpoint. Self-control is paramount, and he rarely loses it. One can assume, then, that Obama's barbed comments on Russia, delivered at a Tuesday press conference in The Hague, were designed to provoke. They also show just how vexed the US president is by Russian President Vladimir Putin's exploits in Crimea.