Daily Archives: May 29, 2012

Robert Rubin believes economic conditions after November’s US presidential election will be unusually favourable for a deal that would get federal finances on a sustainable path. I think Mr Rubin is engaging in wishful thinking. Rather than being a propitious time for cutting a deal on taxes and spending, it is almost a certainty the opposite will be the case.  Read more

What is Russia’s place in today’s world? Has its government built new bridges to the West? Hardly. After the Soviet Union collapsed, US and European leaders extended a hand toward Moscow. The G7 group of industrialised democracies became the G7+1. Nato, the West’s military alliance, created a Nato-Russia joint council. Russia inherited the Soviet seat in the UN Security Council.

How has all that worked out? When many of Russia’s neighbours moved to build new ties to the West, senior Russian leaders called it an American plot to encircle their country. When US leaders announced plans for a missile defence system in eastern Europe to counter threats from Iran, Russian officials warned that they were really designed to paralyse Russia’s defences in advance of a Western invasion. Read more