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Wolfgang Munchau
15, April

Wolfgang Munchau: The main reason why European governments…

The main reason why European governments led by the far-right are failing is poor economic performance. One of the biggest differences between Trump and Orbán is that the US economy – so far – performs quite well, whereas the Hungarian economy is a basket case. What RN, AfD, and Reform have in common is lack of an economic strategy. If they don’t know how to raise growth, they will be blown away. http://eurointelligence.com
Dale Vince
15, April

Dale Vince: An amazing collection this…

An amazing collection this, of hope over reason. Britain just invested £600m into Rolls Royce’s ‘mini nuke’ program - that was always coming. But here we see it’s being done in the hope that these things can be built faster than the big versions that are famously slow and always late. Hope. This sentiment get’s worse when we hear that this mini nuke investment is intended as an answer to the middle east inspired - second fossil fuel crisis of this decade so far. The ‘hope’ is to have the first three up and running by 2035, nine whole years from now. This crisis will be over by then and the ones that will follow. How on earth can anyone think that something coming in ten years is an answer to a crisis we’re in right now? And that’s not all. Rachael Reeves is right to flag the importance of making our own energy here, to protect us from future crises - but she overlooks the elephant in the room (no not Trump) - we don't set the price of electricity made here, whether from the wind, sun or nuclear. Global fossil markets do. So these nukes could appear tomorrow, could even make affordable energy - but it won't affect our electricity bills at all - because all of the stuff we make here is priced somewhere else. Why won't Labour grasp this nettle - we need to break the link between the price of fossil gas and the price of all other forms of electricity made here. That (and only that) can bring bills down immediately. And protect us for the future. Legislation to do it exists - only the will seems missing. We can find £600m for tech that might help us in ten years (big bold announcement) - but not the courage to take on this foolish market mechanism. Shame. https://independent.co.uk/news/uk/politics/rolls-royce-smr-nuclear-reactor-iran-b2957118.html
Franz-Stefan Gady
15, April

Franz-Stefan Gady: Iran secretly acquired a Chinese spy…

‚Iran secretly acquired a Chinese spy satellite that gave the Islamic republic a powerful new capability to target US military bases across the Middle East during the recent war, according to a Financial Times investigation. Leaked Iranian military documents show the satellite, known as TEE-01B, was acquired by the Islamic Revolutionary Guard Corps’ Aerospace Force in late 2024 after it was launched into space from China.‘
Deborah Haynes
15, April

Deborah Haynes: A decision by Lord George Robertson...

A decision by Lord George Robertson to call out the prime minister and his chancellor over their failure to rearm the UK at speed in the face of growing threats marks the most significant intervention on defence spending since the end of the Cold War. The key question now is whether it will have any effect on political debate and the wider public mood - or whether his bellowing cry for action will be wafted away by reassuring soundbites from Sir Keir Starmer and his team that they have defence and security covered. The former Labour defence secretary, former NATO chief and, most pertinently, lead author of the government's own defence review, said he was speaking out against his own party with a "heavy heart" and knowing full-well it would not go down well inside Downing Street. Yet Lord Robertson clearly felt that he had no choice but to put country before politics. He has waited patiently for almost a year for the government to turn his strategic defence review into a fully-funded plan that was rapidly getting the country - as the prime minister has said needs to happen - ready for war. Instead of a flood of activity, though, with defence factories churning out weapons and the Royal Navy, Army and Royal Air Force expanding their warfighting prowess, there has been paralysis as Sir Keir Starmer, Rachel Reeves and John Healey, the defence secretary, attempt to finalise a plan on how to pay for everything. The Defence Investment Plan should have been published last autumn. It is still on the prime minister's desk awaiting sign off. "There is a corrosive complacency today in Britain's political leadership," Lord Robertson said in a carefully crafted speech at the Guildhall in Salisbury to an audience of largely local residents and a sprinkling of journalists, including me. "Lip service is paid to the risks, the threats, the bright red signals of danger. But even a promised national conversation about defence can't be started." Full analysis ⬇️
Wolfgang Munchau
15, April

Wolfgang Munchau: The craziest thing the West…

The craziest thing the West is doing right now is funding its military expansion through debt. This is done in the name of security, but it creates massive security risks in itself, for example if a government under attack would face sudden fiscal constraints because it has no fiscal space available. Putin, by contrast, funds his military adventures mostly from revenues. Russia’s debt-to-GDP ratio is under 20%. If it ever came to a war, Putin’s biggest ally would be the bond market vigilantes. http://eurointelligence.com
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