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Europe’s military cooperation pact has been called a “Sleeping Beauty” — and a progress report obtained by POLITICO shows the much-vaunted initiative is struggling to wake up. The program, known as Permanent Structured Cooperation (PESCO), brings together 25 EU member countries, working in smaller groups on a total of 46 joint projects. The projects cover land, sea, air, space and cyberspace and range from drone defense through maritime surveillance to intelligence training. But three and a half years after PESCO was launched to great fanfare by EU leaders, many of the projects are still in their infancy and a significant number are behind schedule, according to the annual report.
Biden Pulling Out Three Defensive Missile Batteries From Middle East A reduced U.S. military presence in the Middle East is empowering Iran and pushing Gulf states to unite. A U.S. soldier stands with a Patriot missile system in the background BULENT KILIC/AFP/GETTY IMAGES In his foreign-policy speech on February 4, Joe Biden announced that the United States would be taking “additional steps to course-correct our foreign policy.” He pledged to end the war in Yemen and recalibrate the U.S.-Saudi relationship, including freezing the sale of offensive weapons that Saudi Arabia has used in its six-year battle in Yemen.
Trade Wars Are Class Wars: How Rising Inequality Distorts the Global Economy and Threatens International Peace by Matthew C. Klein and Michael Pettis Yale University Press, 2020, 288 pp. A few years before the global financial crisis of 2008, future Federal Reserve Chairman Ben Bernanke popularized the notion that the world was divided into trade surplus countries like China and trade deficit countries like the United States. Echoing John Maynard Keynesâs trade destabilization theory, Bernanke argued that this imbalance was a significant cause of global instability. But whereas Keynes saw instability as a normal product of global trade, the effects of which would be mitigated by international financial agreements putting limits on surpluses and deficits, Bernanke laid the blame squarely at the doorstep of the East Asian and German economies.
Slovenia Declares Full Hezbollah Ban Germany made the decision back in May; now Europe is following suit. Members of the Shiite Mehdi army militia carry Lebanese Hezbollah flags as they rally at Baghdad’s impoverished neighborhood of Sadr City. AHMAD AL-RUBAYE/AFP/GETTY IMAGES On November 30, Slovenia declared Hezbollah, in its entirety, a terrorist organization. This adds yet another nation to the growing list of European states who no longer differentiate between the group’s political and armed wings. Until recently, most European countries considered only Hezbollah’s military wing a terrorist organization, declaring its political wing an integral part of Lebanon’s political makeup. In the last year and a half, however, 16 countries—nine in just the last six months—announced that they consider the entire group to be a terrorist organization.