In this Financial Times op-ed, Benn Steil argues that the Fed's aggressive monetary expansion threatens to undermine its unique powers among central banks, and, if continued, will have damaging consequences for America's future prosperity and global political influence.
The Treaty of Lisbon amended the EU's two core treaties, the Treaty on European Union and the Treaty establishing the European Community. It was signed on December 13, 2007 and entered into force on December 1, 2009.
This text amended the Treaty on European Union (Treaty of Maastricht) and the Treaty Establishing the European Community (Treaty of Rome). European leaders signed it on December 13, 2007; it entered into force on December 1, 2009. The amendments updated voting and legal procedures in the European Parliament, made the Charter of Fundamental Rights binding, and provided EU members the option to leave and to rejoin the EU.
European efforts to create a common counterterrorism policy continue in fits and starts, with some fearing an erosion of civil rights, and others an uncoordinated system that opens the way for tragedy.
William Drozdiak, president of the independent American Council on Germany, says the White House meeting last week between German Chancellor Angela Merkel and President Bush indicates “they seem to have struck up a much more friendly rapport than what Bush had with her predecessor Gerhard Schroeder."
Germany’s U.S. ambassador says his country will use new leadership positions in both the European Union and the G8 to advance the Israeli-Palestinian peace process and issues such as energy security with Russia.
Pope Benedict XVI makes his first visit to a majority Muslim state, Turkey, on November 28. The trip’s original aim was to build ties with Christian Orthodox leaders but the pope’s recent comments on faith, reason, and Islam—as well as Turkey’s EU accession—are likely to resonate throughout.
Steven A. Cook, CFR’s leading expert on Turkey, says the country is so preoccupied with issues of European Union membership, continuing problems over divided Cyprus, and the Kurdish issues that the pending visit of Pope Benedict XVI has not aroused much interest.