Europe

By Gideon Rachman
When the radical left won power in Greece in January much was made of the fact that Yanis Varoufakis, the new finance minister, is an academic economist. Many expected that Greece’s negotiating strategy would display a new subtlety and brilliance, now that it was guided by the co-author of Game Theory — A Critical Introduction.

  • 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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By Gideon Rachman
Neither man would appreciate the comparison, but Alexis Tsipras and David Cameron are in remarkably similar situations.

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.

Welcome to our live coverage of the European Central Bank President Mario Draghi’s press conference.

While we are not expecting quite the same excitement as six weeks ago when a protester jumped out from the journalists’ seating area yelling “end the dictatorship”, the eurozone economy is looking perkier, so many investors will be listening out for whether Mr Draghi strays into dovish or hawkish territory with his comments. The ECB kept its benchmark interest rate on hold at 0.05 per cent.

There will also be the inevitable focus on Greece, as bailout talks with creditors reach knife edge. Cash-strapped Athens is threatening to delay making a €305m loan repayment to the International Monetary Fund if there is no deal in the next few days.

By Ralph Atkins and Lindsay Whipp

 

Ireland's Dustin the Turkey at the 2008 contest

Russian Babushki have invited Europeans to a “Party for Everyone”, four Swedes found their “Waterloo”, British airline attendants camped it up when “Flying the Flag”, and a girl band from the Former Yugoslav Republic of Macedonia pressed Financial Times readers’ buttons with a percentage breakdown of their amorousness (“I Love You 100%”). Read more

Will Britain stay in the European Union?
Britain’s first majority Conservative government for 18 years is pushing for a renegotiation of its relationship with the EU and has promised an in-out referendum on membership by the end of 2017. Ben Hall discusses Britain’s place in the EU with George Parker and Alex Barker.

By Gideon Rachman

When Angela Merkel won re-election in 2013, the outside world saw her success as a sign that things were going well in Germany. But David Cameron’s decisive victory in the UK’s election last week is receiving a much more sceptical press overseas. A Washington Post headline proclaimed: “Election may set Britain on a path to becoming Little England”. A New York Times columnist upped the ante by announcing: “The Suicide of Britain”.

By Gideon Rachman
The relationship between the government of Greece and the rest of the eurozone increasingly resembles a bad marriage. The two sides are sick of the sight of each other. Mutual trust has broken down. Efforts to patch things up continue, but nothing seems to work.

By Gideon Rachman
Google regularly tops the list of companies that students want to work for and, visiting its Silicon Valley campus last week, I could see why. The skies were blue, the temperature was perfect. A group of employees was playing volleyball, while out in the car-park somebody was demonstrating a prototype of a self-driving Google car.

Ed Miliband outlines his foreign policy plans at Chatham House in London

If Ed Miliband becomes Britain’s prime minister next month what will this mean for the country’s foreign policy? The question is one that the UK’s allies should start considering because the prospect of him winning power is growing. Betting companies believe there is now a greater chance of Mr Miliband entering Number 10 after the May 7 election than of David Cameron returning to office.

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Europe’s Mediterranean migrant crisis
EU leaders are scrambling to respond to the deaths of thousands of refugees who have drowned trying to cross the Mediterranean from Libya towards a better life in Europe. Ben Hall is joined by Peter Spiegel and Borzou Daragahi to discuss Europe’s migrant crisis.

EU officials have come under renewed pressure to take action against flotillas of migrants from Africa following the deaths of more than 1,000 people during attempted Mediterranean crossings over the past week alone.

A massive search and rescue operation remains underway to find survivors among the wreckage of a ship thought to be loaded with more than 800 migrants which capsized over the weekend off the coast of Libya, potentially representing the worst maritime disaster of its type in the Med. Only 27 of those on board have been rescued.

The migrant deaths have shone a spotlight on Libya’s lucrative people smuggling industry. While the human cargo consists mainly of young men from Africa and the Middle East, more than 900 children also embarked on the dangerous crossing in the first three months of 2015.

In the aftermath of Libya’s bloody civil war, business is booming for the people traffickers. These figures illustrate why. Read more

By Gideon Rachman
When 12 people were murdered by terrorists in the Charlie Hebdo attacks in Paris earlier this year, more than 2m came out on to the streets of France to demonstrate in sympathy and protest. It seems unlikely that there will be a similar outpouring of public emotion in response to the deaths of hundreds of would-be migrants who drowned in the Mediterranean over the weekend as they attempted to cross into Europe.

  • Despite being accused of naivety in his foreign policy, Barack Obama is showing qualities associated with Henry Kissinger – the arch-realist of US diplomacy, writes Ed Luce
  • Whether by design or accident, Athen’s Syriza-led government has achieved deep European harmony – but this has not produced agreement on a strategy for dealing with the Greek crisis
  • Dubai is hoping to be a bridgehead for deals with Iran as international investors prepare for a gold rush with the prospect of an end to nuclear sanctions in sight
  • Secret files from the Islamic State of Iraq and the Levant (Isis) show how former officials under Saddam Hussein helped design a blueprint for the militant jihadi group’s meteoric rise (Spiegel Online)
  • Who or what abdicated power in Grimsby, once the largest fishing port in the world and now a target for the UK Independence party, leaving swathes of it to rot? (London Review of Books)

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Three weeks to go until the UK general election, and whatever the result – most likely no party with an overall majority in parliament – the remarkable thing is the serious underperformance of the ruling Conservatives.

The Conservatives inherited a nascent economic recovery in 2010 from a desperately unpopular Labour government that had been in power for thirteen years, and, despite questionable economic policies such as excessive austerity, narrowly managed not to screw it up.

But instead of building on their modest 36.1 per cent vote share in 2010, which forced them to form a coalition with the Liberal Democrats, polls now show the Tories struggling to break above 35 per cent. Read more

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  • As the US moves closer to a nuclear deal with Tehran that could end decades of estrangement, it simultaneously finds itself scrambling to curb Iran’s influence in the Middle East
  • The contours of Russia’s new national ideology have become clear in the Ukraine crisis; its foundations are nostalgia for a glorious past, resentment of oligarchs, materialism and xenophobia
  • Despite being engulfed in news about corruption, Latin America is showing advances in strengthening institutions and holding the powerful to account
  • Uzbekistan president Islam Karimov has upgraded his country from pawn to rook as central Asia’s chess master uses the rivalry between China, Russia and the US to its advantage (Foreign Policy)
  • The provision of an hallucinogenic drug to inmates in the middle of the rain forest reflects a continuing quest for ways to ease pressure on Brazil’s prison system (New York Times)

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The scramble by European countries to join China’s new Asian Infrastructure Investment Bank is a powerful symbol of the eastward shift of global power

Soldiers of fortune from apartheid-era South Africa that inspired the Hollywood thriller ‘Blood Diamond’ are starring in Nigeria’s attempt to flush out Boko Haram terrorists

Saudi Arabia’s military intervention in Yemen’s civil conflict has turned up the heat on a simmering cold war between regional Sunni Arab states and their Shia rival, Iran

If the cries of ‘Je suis Charlie’ were sincere, the western world would be convulsed with worry and anger about the Wallström affair, argues Nick Cohen (The Spectator)

Chad’s strongman president, Idriss Déby, says Nigeria is absent in the fight against Boko Haram as Chadian troops defend Nigerian territory from the extremists (New York Times)  Read more