By Delphine Strauss in London and Claire Jones in Frankfurt
© The Financial Times Ltd 2014 FT and 'Financial Times' are trademarks of The Financial Times Ltd.
By an accident of timing, William Hague’s departure from the Foreign Office has come on the same day as the confirmation, by the European Parliament, that Jean-Claude Juncker will be the next president of the European Commission. One of Mr Hague’s last, losing, battles was to prevent Mr Juncker from getting the Commission job. His successor at the Foreign Office, Philip Hammond, will inherit the crucial task of trying to manage Britain’s relationship with the EU. Read more
By Gideon Rachman
Germany has a habit of winning the World Cup at symbolic moments. Victory in 1954 – captured in the film, The Miracle of Bern – allowed Germans a moment of pride and redemption after defeat and disgrace in 1945. A second victory in 1974 went to a West Germany whose “economic miracle” had, by then, allowed it to regain its status as one of the world’s most advanced nations. Victory in 1990, just months after the fall of the Berlin Wall, caught the joy and potential of a soon-to-be united Germany.
In July 1990, a controversial late penalty by Andreas Brehme won the World Cup for Germany and snatched the title from Argentina. As a boy growing up in Buenos Aires, I can still remember vividly Diego Maradona’s inconsolable tears as the selección limped off the pitch of Rome’s Stadio Olimpico.
Those were my tears too. But 24 years later, there is a chance finally to erase that childhood trauma. On Sunday, Argentina faces Germany in a World Cup final once again.
As a fan of la albiceleste I can’t really complain. During my lifetime Argentina have won two World Cups, including beating West Germany in the 1986 final, and produced some of the finest players in recent years, from Maradona to today’s hero, Lionel Messi.
I was a year old, and living relatively close to the River Plate stadium, when Argentina beat Holland in the 1978 World Cup final. When they did it again eight years later in Mexico, I was old enough to realise what it meant and to feel the country’s intoxicated joy as Maradona raised the trophy above his head in the sunny Estadio Azteca. Read more
Once Indonesia has finally got through counting the votes and has separated the two presidential candidates, it will have a new leader. That puts the nation of 250m people in good company. In Asia, in the last 18 months, countries with approaching a total of 3bn inhabitants – including China, India, Japan and South Korea – have changed their leadership. Even the Thais have a new man in charge, though he had to organise a coup to get there.
One country that has not altered its leadership is the Philippines. Benigno “Noynoy” Aquino, has been president for four years. By the standards of his perennially disappointing country of nearly 100m people, his time in office has been a roaring success. Growth has stabilized above 6 per cent, inflation is low and debt and budget deficits have been brought under firm control. The economy is even creating jobs – something it has sorely lacked for years – in the booming outsourcing sector. Call centres in the Philippines employ more people than ones in India. Ratings agencies have responded to improving macroeconomic conditions, upgrading sovereign debt to investment grade. Philippine conglomerates have started investing significant sums at home. Read more
As François Hollande’s socialist government has taken a distinct turn to the right under Manuel Valls, his reformist prime minister, many have questioned the role of Arnaud Montebourg, champion of the left, fierce critic of globalisation and scourge of corporate bosses, both French and foreign.
Rumours have circulated in the French media that Mr Montebourg, promoted to economy minister when Mr Valls was appointed at the end of March, might soon quit the government to position himself for a potential presidential tilt in 2017 if Mr Hollande fails to recover from his current rock-bottom ratings. Read more
The tight supply of international standard housing in Luanda has put the Angolan capital top of the list of the most expensive cities in the world, according to a survey by consultants Mercer of the costs of living abroad. It held the same position last year as the oil boom continues to suck in expats. Read more
US-German relations strained over new spying allegations
Germany has summoned the US envoy following allegations that an agent working for Germany’s intelligence agency was spying for the US. Gideon Rachman is joined by James Blitz, former security correspondent, and Jeevan Vasagar, Berlin correspondent, to discuss what this means for already troubled relations between the Obama and Merkel governments, and how the two nations can resolve their differences in order to tackle the numerous shared geopolitical challenges they face.
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Commentary on international affairs, with Gideon Rachman and his colleagues