World affairs

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  • Following the military coup and counter-revolution, Egypt’s main problem is the restoration of the security state, which is using the judiciary as one of its arms to stifle dissent and ringfence the army’s privileges
  • Russian president Vladimir Putin cancelled construction of a strategically important gas pipeline following opposition from the EU and sanctions, but Moscow will instead develop a gas hub to southern Europe via Turkey
  • Lines of frustrated shoppers have replaced socialist rallies and posters of Hugo Chavez as the most ubiquitous images of Venezuela, with the situation set to worsen after Opec resisted Caracas’s calls to boost the oil price
  • The booming trade in jade in Myanmar – like blood diamonds in Africa – is turning good fortune into misery, as the spoils remain in the hands of the military and Chinese financiers who collude to smuggle the gemstone (NYT)
  • Jihad isn’t all it’s cracked up to be, say disgruntled Isis recruits from France, who complain of iPods not working, being forced to do the dishes – and threats of execution if they attempt to flee (The Independent)

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Which of the eurozone’s 18 member states will be the weakest performing economy in 2015?

Italy, which has recorded no economic growth since 1999? Cyprus, which is still reeling from its financial sector collapse in 2012-13? Or some other hard-pressed southern European nation? No. In all probability, the sick man of the eurozone will be Finland.

The Finnish economy is in its third consecutive year of contraction. Any growth in 2015 will be not much bigger than a snowflake. The country will hold a general election in April. The question is whether the dark outlook will benefit The Finns, a populist-nationalist party which was known as the True Finns when it shocked Europe by coming third in the 2011 election with 19 per cent of the vote. Read more

By Gideon Rachman
What should western politicians be most worried about: growth, inequality, the environment, education? To judge from today’s discourse, the answer seems to be none of the above. Instead, in the past month, both Barack Obama, US president, and David Cameron, UK prime minister, have made big speeches on immigration. At the weekend Swiss voters rejected a proposal virtually to end the flow of incomers to their country. But anti-immigration parties have made strong gains in a variety of other European nations, including Sweden and Italy, in the past year.

All smiles: foreign ministers of the six world powers at the nuclear talks in Vienna. Getty

The failure to meet this week’s deadline for a definitive nuclear deal between Iran and the so-called P5+1 (the US, UK, France, Russia and China, the permanent members of the UN Security Council, plus Germany) is ominous. True, the negotiations, already extended once after the interim agreement a year ago, have been given a new deadline of June next year. But musings of the glass half full, glass half empty variety under-represent just how difficult it will be now to close a deal, and how much is at stake if this chance to bring the Islamic Republic in from the cold slips away. Read more

Another week, another sign of political upheaval in Spain.

Monday brought a fresh poll showing that Podemos, the upstart anti-establishment party, is now the most popular political movement in the country. The survey, published in the El Mundo daily, gave Podemos 28.3 per cent of the vote, two points ahead of the ruling Popular party and more than eight points ahead of the opposition Socialists. Not bad for a party founded just 10 months ago by a group of political scientists

It was not the first time that the new party has come first in an opinion poll. But the latest survey made clear that the Podemos surge is no statistical aberration. Fuelled by wide-spread disdain for Spain’s political class and a festering social crisis, the new party appears to be on course to shatter Spain’s established two-party system – and render any prediction as to who might govern the country after next year’s general election obsolete. Read more

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A handout picture released by Swedish army shows the mystery mini sub

They came, they saw (eventually), and they pledged to conquer if it ever happens again. Read more

  • After a bitter election campaign in which she eschewed market economics and painted her main opponent’s party as bloodsucking bankers, Brazil’s president Dilma Rousseff is now adopting the more orthodox economic policies of her defeated rival
  • The “disappearance” and presumed murder of 43 students in Mexico, along with claims of impropriety surrounding president Enrique Peña Nieto, has raised doubts over his ability to deliver much-needed reform
  • Asia cannot replace the west as a source of financing for Russia’s sanctions-hit economy, according to a close ally of President Vladimir Putin, who downplayed Moscow’s attempt to pivot east as Russian companies seek to refinance $40bn in debts maturing this year
  • Turkey must continue the peace process with the Kurdistan Workers Party to prevent sectarian and ethnic bloodshed from spilling over from neighbouring Syria
  • A landmark climate change deal will cut China’s emissions for more than a decade and it is going to be tough for the US to meet its requirements. But it is a good start (Foreign Policy)

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People wait in line at a government employment office in Madrid – Getty

A strong, broadly based economic recovery in the eurozone is nowhere in sight – as will become clear on Friday, when Eurostat, the EU agency, and several national statistical offices publish estimates for gross domestic product growth in the third quarter of this year. Read more

For the past 15 years, there has been little good to say about Italy’s economic performance, and even less about the quality of Italian political life.

Yet one Italian institution emerges with its reputation unscathed – and even strengthened – from this long spell of incompetence, corruption and decline.

I am speaking of the presidency. Carlo Azeglio Ciampi, who served as head of state from 1999-2006, and Giorgio Napolitano, his successor and the current president, have exemplified everything that is dignified, decent and honourable about their country. Their behaviour in office has put the squabbling and self-serving political classes to shame – and it has preserved respect for Italy among its allies and partners abroad. Read more

By Gideon Rachman

This weekend America announced that it was sending more troops to Iraq, Russia allegedly sent more troops into Ukraine and President Barack Obama set off for Beijing.

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The funeral of Benjamin Crowninshield Bradlee at the Washington National Cathedral was part state occasion, part Shakespearean drama. Stirring eulogies, martial strains and trumpets, and a gathering of courtiers high and low, laying to rest one of the great warrior kings of modern newspaper journalism, perhaps the greatest. Read more

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  • Nigeria has risked its credibility by announcing a deal to free 200 schoolgirls kidnapped by Boko Haram before they are released safely
  • Poland’s lossmaking coal industry, once seen as a bulwark against reliance on Russian energy resources, is in dire need of reform
  • A severe drought in São Paulo is not just affecting Brazil’s coffee and sugar crops, it could also play out in Sunday’s presidential election run-off
  • A weakening currency should mean a boost to exports and inflation, but that theory will be put to the test in the eurozone
  • South Korea’s professional video game competitions, known as ‘e-sports’, are so popular they fill stadiums with 40,000 fans cheering on players

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