Antonia Colibasanu.

Conferences as a general rule are meant as networking events – rarely do you attend one that provides new insights into reality. Over the last three weeks I have traveled and attended conferences in Slovakia, Switzerland and Romania. Considering that the three events I attended focused much on international security and defense policy, I was surprised to observe the persistence of two general themes: the pessimistic view on the future of the European Union and the questions marks flying up in the air whenever talking about NATO. Looking back, news coming from one country — Sweden — highlighted the two worries. Since early March, the Swedish media has been a [...]

The transformation currently taking place within the European Union not only casts doubt on the future of the bloc, but it also brings to the forefront elements that redefine the notion of country risk. The conditions Brussels has attached to its assistance to Cyprus have opened a discussion on how much control a country’s government should have over the financial sector and, ultimately, its citizens’ savings. Ever since the great depression in the 1920s, the idea that bank deposits are secure has been a fundamental banking principle. Brussels’ demand that depositors pay for the bailout of their Cypriot banks breaks the social contract in place in Europe since the 20s. [...]

In the past few days, we’ve observed Gaza and hoped for an ending of the current conflict. I was writing last week that it is regional powers that will be the main drivers of a potential cease-fire, considering that the current foreign policy focus of the EU members and the U.S. is elsewhere. Cairo is indeed mediating the cease-fire talks. However, recent interesting moves from Washington and Paris allow us to better understand the challenges of the current situation. U.S. Secretary of State Hilary Clinton, en route to Cambodia, made a stop in the region, but this does not necessarily mean the United States will get involved in the conflict. [...]