"As the European Union has emerged as a regulatory superpower affecting 28 countries that collectively form the world's largest economy, its policies have become ever more important to corporations operating across borders. In turn, the influence business in Brussels has become ever larger and more competitive, rivaled only by Washington's."
"Next year's elections to the European parliament also look like a possible breakthrough moment for a European Tea Party. The parliament has traditionally been the most federalist institution in Europe, acting as a lobby group for the transfer of more powers to Brussels. But next May's elections are likely to show a surge in votes for eurosceptic parties across the continent."
"Managing a bond fund these days is a peculiar business. Global central banks have aggressively supported government bonds, driving up—many would say distorting—their prices. Market observers generally agree that support will eventually ebb, bringing prices back down and bond yields up, but no one can be certain when. What is an investor to do?"
"The International Monetary Fund proceeded with its record 2010 bailout of Greece despite deep internal divisions over whether it would work, according to confidential documents that contradict the fund's public statements."
The Good Friday Agreement has brought considerable progress and relative calm to Northern Ireland since 1998, but much work remains to dampen sectarian tensions that could lead to renewed violence and threaten progress toward greater cohesion.
"So far, the grand bargain between the core and the periphery has held up: the periphery continues austerity and reform while the core remains patient and provides financing. But the eurozone's political strains may soon reach a breaking point, with populist anti-austerity parties in the periphery and populist anti-euro and anti-bailout parties in the core possibly gaining the upper hand in next year's European Parliament elections."
Angela Merkel's resounding electoral triumph likely means stability and continuity in Eurozone crisis management and little chance of a larger German role in global security, says CFR's Charles Kupchan.
The Council on Foreign Relations' David Rockefeller Studies Program—CFR's "think tank"—is home to more than seventy full-time, adjunct, and visiting scholars and practitioners (called "fellows"). Their expertise covers the world's major regions as well as the critical issues shaping today's global agenda. Download the printable CFR Experts Guide.
The author examines Pakistan's complex role in U.S. foreign policy and advocates for a two-pronged approach that works to quarantine threats while integrating Pakistan into the broader U.S. agenda in Asia.