Europe

Foreign Affairs Article

Nuclear Waste

Authors: James Blackwell and Barry Blechman

Barry Blechman and Russell Rumbaugh (“Bombs Away,” July/August 2014) have revived an old argument: U.S. tactical nuclear weapons are militarily useless, and so there is no reason for Washington to keep them in Europe.

See more in Europe; Defense and Security

Foreign Affairs Article

Misrule of the Few

Author: Pavlos Eleftheriadis

Just a few years ago, Greece came perilously close to defaulting on its debts and exiting the eurozone. Today, thanks to the largest sovereign bailout in history, the country’s economy is showing new signs of life.

See more in Greece; Economics

Foreign Affairs Article

Taper Trouble

Author: Benn Steil

Benn Steil's essay in the July/August issue of Foreign Affairs looks at the international consequences of U.S. monetary policy action. He argues that developing-nation governments are coming to see the need for engineering current-account surpluses and large dollar-reserve stockpiles as a means of insulating themselves against Fed-induced capital-flow whiplash. As this amounts to "currency manipulation" in the eyes of U.S. policymakers, trade tensions are apt to grow.

See more in Ukraine; United States; Monetary Policy; International Finance

Foreign Affairs Article

Six Markets to Watch: Turkey

Author: Daniel Dombey

For much of last year, Turkey's economy seemed almost on top of the world. In May, as huge construction projects moved ahead, Ankara paid off its remaining debt to the International Monetary Fund, ending what seemed to many Turks a long history of humiliation.

See more in Turkey; Emerging Markets

Foreign Affairs Article

Iceland's Saga

Author: Ólafur Ragnar Grímsson

By all rights, Iceland -- a remote Arctic island inhabited by just 320,000 people -- should be a forgotten backwater. And for most of its history, it was.

See more in Iceland; Economics

Foreign Affairs Article

Left Out

Author: Henning Meyer

Europe's social democrats hoped that the 2008 economic meltdown would vindicate their politics and strengthen their hand. But they failed to see how badly they had damaged their brand by compromising on core principles during the previous two decades. To find their way forward, they must return to their roots.

See more in Europe; Congresses, Parliaments, National Legislatures

Foreign Affairs Article

The Church Undivided

Author: Victor Gaetan

Pope Benedict XVI made reaching out to other faiths and promoting Christian unity hallmarks of his tenure. Pope Francis will continue this work, not only because he has a history of facilitating religious dialogue, but also because global Catholicism requires it.

See more in Vatican/Holy See; Religion