Ukraine faces battles on two fronts
Rising violence in eastern Ukraine has prompted the leaders of France, Germany and Ukraine to convene an emergency summit to try to halt the fighting; at the same time Kiev’s negotiations with its creditors are reaching a critical point. Ben Hall discusses the twin crises with Neil Buckley and Elaine Moore.

China’s renminbi devaluation
China this week stunned financial markets with the biggest devaluation of the renminbi in two decades, only to intervene to stop the slide. Was it a move towards liberalisation or a desperate bid to halt the country’s economic slowdown? Ben Hall discusses the move and its consequences with James Kynge and Gabriel Wildau.

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Barack Obama’s climate plan
President Barack Obama this week unveiled America’s most far reaching action so far on climate change by imposing stringent emissions cuts on the power sector. Orla Ryan asks Pilita Clark and Barney Jopson about the significance of the move.

  • Owning a top English football club used to be every tycoon’s dream, but five stalled sales this summer suggest the asset appears to have lost some of its lustre
  • Fears are growing that Ukraine’s Right Sector, the only big volunteer battalion Kiev has not brought under regular army control, could turn its fire on the government itself
  • The desire to avoid a power struggle within the Taliban and the Pakistan military’s push for peace talks in Afghanistan explain the silence around the death of Mullah Omar, writes Ahmed Rashid
  • Ankara is organizing Syrian rebels for an assault on the Islamic State’s last stronghold along the Turkish border and could even use its warplanes to support their advance (Foreign Policy)
  • Rohingya female migrants from Bangladesh and Myanmar seeking to escape turmoil and poverty are often tricked or forced into marriages to pay smugglers for their freedom (New York Times)

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Turkey steps up its battle on terror
Nato allies have welcomed Turkey’s decision to step up its fight against Isis. But its decision to include Kurdish opponents as the target of its attacks is causing some to question Ankara’s true motives. Siona Jenkins discusses Turkey’s strategy with Daniel Dombey and Alex Barker.

Iran nuclear deal: historic breakthrough or mistake?
Years of painstaking negotiations between Iran and the world powers have finally led to a deal. Was it the biggest international diplomatic breakthrough in decades or a historic mistake? Roula Khalaf, FT foreign editor, and Najmeh Bozorgmehr, Tehran correspondent, debate the pros and cons.

Who loses most from the Greek rescue deal?
On Monday Athens was given a long list of economic reforms it needed to implement in return for another EU bailout. Was it a humiliation for the Greeks or a capitulation by the Germans? Gideon Rachman and Wolfgang Munchau discuss who was the biggest loser.

Europe’s moment of decision on Greece
Is this week finally the one when Greece defaults on its debts and crashes out of the euro? Gideon Rachman is joined by Henry Foy and Ferdinando Giugliano to discuss an apparent hardening of opinion among Europe’s politicians towards Greek appeals for debt relief.

  • July 2015 will go down in history as a continuation of hell for Greece, whose leftwing government has brought catastrophe to the nation, argues Tony Barber
  • The beginning of the end for Yanis Varoufakis, Greece’s finance minister who has just stepped down, began not in Athens, or even Brussels or Berlin, but in the small Baltic capital of Riga
  • Though Ivory Coast has staged a successful comeback since its civil war, some say the focus on the economy at the expense of reconciliation could come back to haunt the country
  • Mexico’s government wants to tame the disruptive teachers’ union which has seized public plazas, burned government buildings and choked off a city’s gas supply (Washington Post)
  • “Germany has never repaid”: In a forceful interview, French economist Thomas Piketty calls for a major conference on debt (Medium, orginally published by Die Zeit)

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  • Angela Merkel is taking her revenge on Greek prime minister Alexis Tsipras by insisting there can be no more talks on the country’s debt crisis until after its referendum on the bailout on Sunday
  • After China’s main stock index fell by 5 per cent yesterday, investors are blaming the share collapse on the securities regulator and the shadowy world of margin lending
  • An Egyptian soap opera set in a neighbourhood in old Cairo circa 1948 offers an empthatic portrayal of the Jewish community – and casts Islamists as the bad guys
  • Yes? No? Greek Voters Are Perplexed by a Momentous Referendum (New York Times)
  • In Ramadi, the Islamic State settles in, fixing roads and restoring electricity (Washington Post)

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Terror attacks hit Tunisia’s economy
Last week saw the second deadly attack on Western tourists in Tunisia in four months, dealing a severe blow to the industry that is the country’s economic mainstay. Siona Jenkins is joined by Erika Soloman and Roula Khalaf to discuss what the government can do to tackle the jihadi threat.

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Nato renews its commitment to collective defence
Defence ministers from the Atlantic Alliance’s 28 members are meeting in Brussels to discuss the reinvigoration of the alliance in the face of Russian aggression. The US is to make the biggest reinforcement of its forces in eastern Europe since the fall of the Soviet Union. Ben Hall discusses the development with Geoff Dyer and Sam Jones.

  • Japan’s golden era of karaoke may have passed, but the companies supplying technology for the pastime are pinning their hopes on a new market: the silver economy
  • International hotel groups are eyeing Iran’s tourism potential as a nuclear deal that could end economic sanctions nears
  • Marco Rubio is rattling assumptions and could upend 2016′s US presidential election, writes Edwards Luce
  • Can South Africa’s first female public prosecutor save the country from itself? (New York Times)
  • The Dominican Republic’s tortured relationship with its Haitian minority (Foreign Policy)

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What happens if Greece defaults?
Is Greece about to default on its debts and if so, what happens next? Gideon Rachman and his guests Tony Barber and Martin Sandbu discuss what has gone wrong between Greece and its eurozone creditors and whether the political rifts can be repaired.

  • Greece cannot lose by rejecting this week’s final offer from international creditors – and leaving the eurozone would achieve a better outcome for its economy, argues Wolfgang Münchau
  • Foreign companies are finding ways of circumventing economic sanctions on Russia, enabling the provision of goods and services like banking to blacklisted entities
  • As the government in Athens fast runs out of money – and nervous depositors pull cash from the country’s banks – there is growing talk of the extraordinary use of capital controls in Greece
  • A documentary shows how the poorly-trained and equipped Kurdish peshmerga forces are the international coalition’s only reliable boots on the ground in northern Iraq (Vice Media)
  • A Chinese entrepreneur who took just 19 days to build a 57-storey tower says he has triggered a construction revolution. And his dreams soar far, far higher (BBC)

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Turkey’s dramatic change of direction
Turkey’s dramatic election results have set back the political ambitions and increasingly personalised rule of President Recep Tayyip Erdogan. Gideon Rachman discusses what this means for the country’s future with Daniel Dombey and David Gardner.

By Richard McGregor in Washington

In the confrontational atmosphere pitting Beijing against Washington and its allies in Asia, it is often forgotten that China and much of the west were allies in the region’s defining wartime struggle, fighting their then mutual foe, Japan.

In September, Beijing is planning a massive military parade to remind the west and the rest of the world of that moment, the 70th anniversary of Japan’s surrender in the Pacific War. As commemorations go, it promises to be an awkward occasion. Read more

Will Italy’s regional poll results weaken Renzi’s reforms?
The government of Matteo Renzi has done badly in regional elections. Gideon Rachman and guests discuss whether his reformist project is now in trouble and what that would mean for the rest of Europe.