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- If Russia gets away with its incursion into Ukraine, other governments may decide defying America is getting less risky, writes Gideon Rachman.
- Play at being president-for-a-day to get under the skin of South America’s leaders as regional problems expose a lack of unity.
- London has impressed itself upon the world as an imperial metropole, a financial hub, a destination for migrants – and now as a subject of moral panic.
- The father of the boy responsible for the Sandy Hook killings in the US searches for answers.
- Development experts stand accused of empowering dictators and trapping millions in poverty.
- Ten years ago Christine Spolar, FT investigations editor, reported on the Iraq war. She returned last month to find old colleagues and friends living in fear.
- China’s leaders love watching House of Cards because it confirms their perceptions of the workings of US government.
- Japan’s yakuza have seen their numbers decline for the first time in years: is it because of a police crackdown, or are they going underground?
- Francis Fukuyama looks at how effectively the US translates its economic power into foreign and security policies.
- Tatar leaders war of jihadi-style violence against Russia over its Crimea occupation.
- Lawrence Summers says the west should make modest promises to Ukraine and then strive to deliver more than it expects.
As diplomatic discussions with Russia get underway, the fate of Crimea looms large. An obvious question is whether the west could or should accept the de-facto annexation of Crimea by Russia. Beyond simple appeasement of Russia, the argument to do this would be that Crimea has long been an oddity in Ukraine. It was part of Russia, until it was gifted to Ukraine by Kruschev in the 1950s. It is the only bit of Ukraine that has a Russian-speaking majority. Why not just hand it over? Read more
- Ivan Krastev in Foreign Affairs looks at why Putin threw caution to the wind: “to bring about a constitutional crisis that will remake Ukraine into a confederate state with a very weak centre”.
- Neil Buckley critiques Putin’s classic performance as he broke his silence on Ukraine.
- Money flows from power in China: the richest members of China’s parliament saw their average wealth increase more than four times over the past eight years, compared with an increase of under three times for the 1,000 wealthiest people identified in the country. Those who wanted to leave the country however, were less lucky – a group of wealthy Chinese are threatening to sue over Ottawa’s abrupt cancellation of its Immigrant Investor Scheme.
- “Mandarinisation” is making people in Hong Kong indignant.
- As the European Central Bank prepares to conduct stress tests and asset quality reviews of hundreds of banks across the eurozone, there is particular worry among some European regulators about Italy’s banks.
The stand-off continues. The ultimatum, reportedly given by Russia to Ukrainian military forces in Crimea to surrender by 5am (3am GMT), passed without incident. Russian President Vladimir Putin has given a press conference in which he stepped back from the brink of confrontation but insisted Viktor Yanukovich was toppled in an “unconstitutional coup”. The US continues to press for full withdrawal of Moscow’s troops from Ukrainian territory. Global equities traded higher and haven assets retreated as markets reacted with relief to an apparent easing of tensions.
By Shannon Bond, John Aglionby and Amie Tsang with FT correspondents around the world
My brother has a small Chinese vase standing on his mantle – an antique that tells us something about Russia‘s centuries-old techniques for imposing its will on weaker neighbours.
The vase is a small remnant of what had been a much grander set of pottery originally given to Russia’s Catherine the Great by the Chinese emperor, and then handed to my ancestor, Szczesny Potocki, in return for his services. Read more
The stand-off between Russia and the G7 over Moscow’s intervention in the Ukrainian region of Crimea continued on Monday. Financial markets reacted sharply to developments: fears of a war wiped a tenth off the value of Moscow’s stock exchange, sent the rouble tumbling to an all-time low and pushed up the price of commodities. At the UN in New York, the security council meeting turned into a showdown between Russia and several other nations, including the US and UK, which strongly condemned its incursion on Ukraine’s territorial integrity. And tensions were high in Crimea where it was reported Russia had given Ukrainian military forces an ultimatum to surrender.
By John Aglionby and Leyla Boulton in London, Shannon Bond in New York and FT correspondents around the world
By Gideon Rachman
When the Soviet Union invaded Czechoslovakia in 1968, the Moscow stock market did not crash. That is because there was no Moscow stock market. By contrast, the news that Russian troops have taken effective control of Crimea was greeted, on Monday, by a 10 per cent collapse in shares on the Russian market.