The consensus, such as it is, on the eurozone crisis was neatly summed up on Monday by Hugo Dixon, author and editor at large of Reuters News: “The euro crisis is sleeping, not dead.”
What about the crisis in Greece? Over the past four to five years Europe, supported by the International Monetary Fund, has invested more time, effort and money in Greece than in any other struggling eurozone state. The aim is to reform a country so inefficiently governed, so riddled with corruption and so burdened with debt that it seemed, for certain spells in 2011 and 2012, to pose a threat to the eurozone’s survival.
So it seems reasonable to ask: if this time, effort and money have not changed Greece for the better, what has it all been for? Read more
By Gideon Rachman
Back in 1992 I was watching from the balcony of Madison Square Garden as Bill Clinton accepted the Democratic party nomination for the presidency. On stage with him was his wife, Hillary, and their young daughter, Chelsea. The music that blared from the loudspeakers as the Clintons took their bow was Fleetwood Mac singing “Don’t stop thinking about tomorrow”. It was a quintessentially American message – optimistic and forward-looking.
Part of the wreckage of MH17 that broke up over eastern Ukraine
After three fatal airline disasters in a week, coming just months after the mysterious disappearance of Flight MH370, aviation safety is under more scrutiny than at any time since the September 11 2001 terrorist attacks.
Not surprisingly, there has been a marked increase in chatter on social media in the last few days about fear of flying. But short of not getting on an aircraft, is there anything nervous flyers should know or do before getting onboard? Read more
It began in a blaze of British hubris. But three weeks later, as the Tour de France heads to the finish line on the Champs Elysees, the Brits have sunk without trace and the race has instead seen a striking renaissance of French cycling. Read more
Israel set itself clear goals when it launched its assault on Gaza. Stop the rocket fire into Israel and close the tunnels that might allow Hamas to infiltrate fighters into Israel. Some 18 days into the offensive, and these goals have not yet been achieved. But that is not the only sign that Israel’s Gaza offensive is going wrong. On the contrary, there are multiple signs that Israel is losing control of the situation: Read more
Images of death and destruction in Gaza dominate TV screens in the Arab world. With turmoil spreading, Roula Khalaf, the FT’s foreign editor, talks to Gideon Rachman about why Arab support for Hamas is starting to fade.
Crisis over the MH17 atrocity
Russia and the west have been increasingly at odds following the shooting down of a Malaysia Airlines flight over Ukraine, an atrocity that has been widely blamed on pro-Russian separatists. What are Vladimir Putin’s options, and what diplomatic accommodation be can be found to make the situation less volatile? Katherine Hille, Moscow bureau chief, and Neil Buckley, east Europe editor, join Gideon Rachman.
Sam Rainsy greets supporters at Phnom Penh International Airport after arriving in Cambodia on July 19, 2014 (Getty)
I’ve just got off the phone with Sam Rainsy, leader of a Cambodian opposition that has, in one form or another, been trying to dislodge Prime Minister Hun Sen from power for 30 years. After five hours of talks, Mr Rainsy on Tuesday agreed a deal with the country’s leader to end nearly a year of political standoff that has plunged the country into a sometimes violent crisis.
Under the deal, the opposition Cambodia National Rescue party will end its boycott of parliament and take up the 55 seats it won in last July’s election. (Officially, Mr Hun Sen’s Cambodian People’s party won 68 seats, but the opposition says it cheated.) In return for participating in parliament, the opposition will gain a greater say in how the Election Committee is constituted, a concession that is supposed to ensure a fair and transparent election next time round, probably in 2018. Eight opposition members accused of insurrection were also released on bail and will receive parliamentary immunity from prosecution if they take up their seats.
Here are some excerpts from the interview. Direct quotes are indicated as such. Read more
Attempts on Monday by Russia to shift the blame for the shooting down of Flight MH17 over eastern Ukraine away from the separatist rebels have had a few western analysts scratching their heads.
The Russian military gave journalists a high-level and highly detailed briefing of its take on the situation in the area where the Malaysian airliner was shot down. The presentation came just as the first apparent hard evidence was emerging from the crash site that the jet was hit by a large surface-to-air missile, similar to an SA-11 launched by the Buk-M1 system. Read more