World affairs

A spike in the cost of government borrowing is raising the spectre of Venezuela defaulting on its more than $80bn of sovereign debt

Italy’s anti-euro, anti-immigrant Northern League party is seizing on the Scottish referendum to relaunch calls for secession of the north of Italy

A meeting between the leaders of China and India next week underscores the slow thaw in the countries’ relations as their economic links strengthen

Isis is recruiting in Istanbul‘s impoverished suburbs, often through religious study groups, to boost its ranks of fighters and populate its self-declared caliphate. Read more

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David Gardner

President Barack Obama addresses the nation from the White House on September 10 2014

Barack Obama’s outline of plans for a US-led offensive against the Islamic State of Iraq and the Levant, known as Isis, is light on the politics that will be decisive in their defeat. Read more

Gideon Rachman

The announcement by Petro Poroshenko that Russia has withdrawn 70 per cent of its troops from Ukraine has prompted both hope and anguished debate in the Ukrainian capital, Kiev – where I am at the moment. The argument now is whether Ukraine should try to cut a peace deal with Moscow.

President Poroshenko is regarded as the chief partisan of the “peace party” in Ukraine. But he has to tread carefully because many Ukrainians would regard cutting a deal with Vladimir Putin’s Russia as folly or betrayal – or both. Read more

By Gideon Rachman
At the beginning of the year, I gave a talk about “geopolitical risk” to a big conference of investors. I trotted briskly around the course: Russia, the Middle East, the South China Sea, the eurozone. Afterwards, I was having coffee with one of the other speakers, a celebrated private-equity investor, and asked him how much he thought about geopolitical risk.

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By Gideon Rachman
The people who prepare President Barack Obama’s national security briefing must be wondering what to put at the top of the pile. Should it be the Russian assault on Ukraine, or the advance of the Islamic State of Iraq and the Levant (known as Isis) in Iraq and Syria? And what items should go just below that?

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The UK decision to send ground attack aircraft to perform reconnaissance missions over Iraq has led to mounting speculation that it could soon join the US in conducting bombing missions against Islamist extremists terrorising the local population.

The British government has so far resisted calls from some politicians and former officers to join the US in launching air strikes against insurgents from the Islamic State of Iraq and the Levant (known as Isis). But the type of aircraft it has sent to the region – the Tornado GR4 – leaves the option open. Read more