Merkel Presents Alternative Eurozone Plan, Erdoğan Calls Early Elections
Angela Merkel’s response to Emmanuel Macron’s EU reform push is to beef up the Eurogroup: the regular conclave of finance ministers from the nineteen countries that use the single currency. Merkel would add economy ministers to the meetings and expand the Eurogroup’s remit to include all areas of economic policy.
Mehreen Khan argues in the Financial Times that it’s a good way to sabotage eurozone reform: “you effectively hollow out decisionmaking power and create a glorified talking shop.”
I think that’s an exaggeration, but Merkel and Macron do have different priorities.
The former, backed by a Dutch-led alliance of liberal member states, calls for structural reforms to boost competitiveness in the south. Macron argues for investments to promote convergence.
The end goal is the same, but the way they would get there is very different: Merkel puts the onus on the laggards while Macron argues for a shared responsibility. Hence his push for a common eurozone budget and a European finance minister. Read more
Located between Europe and the Middle East, Cyprus has historically been of strategic significance to powers on either side of the Mediterranean Sea. The discovery of natural gas off its shores has raised the island’s geopolitical profile — and might help it overcome communal tensions.
Cypriot waters are estimated to contain between 140 and 220 billion cubic meters of gas with an approximate value of €38 billion.
Exploration should spur economic growth and could make it easier for internationally-recognized Greek Cyprus and Turkey to hash out a compromise for the future of the island. Read more
As Donald Trump returns from his first international tour as American president, one thing that stands out is, as usual, the difference between his and Barack Obama’s approach to diplomacy. Whereas Obama’s first Mideast destinations were Turkey and Iraq, Trump’s were Saudi Arabia and Israel, a country Obama did not even visit until his second term in office.
Trump’s trip also included stops in Brussels, Sicily and the Vatican in Rome. Along with Saudi Arabia and Israel, these represent four of the five most significant allies of the United States within the Middle East and Eastern Mediterranean region: Italy, Israel, the Saudis and the EU.
The fifth ally, which appears to have been snubbed, is Turkey. The Turks were not honored with a stop during Trump’s first trip to the region, as they were during Obama’s.
Turkey failing to make it onto Trump’s travel itinerary might seem to be of little significance, if it were not for the flurry of unpleasant events involving the Turks and Americans that have occured this same month. Read more
NATO Throws Austria Under the Bus to Appease Turks
On the eve of a leaders summit in Brussels, NATO has found a way to salvage its partnership program with 41 nations in Europe and the Middle East which Turkey had threatened to suspend.
A last-minute compromise sees Austria withdrawing from NATO peacekeeping operations in the Balkans and Turkey holding back from severing ties with other non-allied partner states.
The Turks were outraged when Austria called on the EU to end accession talks in the wake of last year’s failed military coup against Recep Tayyip Erdoğan. His government has since purged tens of thousands of soldiers and civil servants on the pretext of disloyalty. Erdoğan has given himself broad powers and imprisoned opposition leaders. Read more
And “to” seems the right word, because this was done to Turkey by Recep Tayyip Erdoğan and his political machine. International electoral monitors cite fraud; so too does the powerful Republican People’s Party. That hardly matters, it seems. Turkish election officials will not allow a recount.
And so even if cheated, it is a victory for Erdoğan. It has been a long road for a critical Middle Eastern nation. The geopolitical trajectory of Turkey is now set. Read more