This paper evaluates international efforts to diagnose the global financial crisis and decide on appropriate responses, the treatments that were agreed and adopted, and the successes and failures as the crisis unfolded. International coordination of economic policies eventually contributed importantly to containing the crisis, but the authorities failed to agree on a diagnosis and the consequent need for joint action until the case was obvious. The policy actions that were adopted were powerful and effective, but they may have undermined prospects for coordinated responses to future crises.
Topic:
International Affairs, Financial Crisis, Economic Policy, and Fiscal Policy
Over the past 12 months, there have been more discussions between South Korean, US, and North Korean officials about Pyongyang’s potential denuclearization than at any time since the Six-Party Talks in 2006 and 2007. Exactly where those discussions are headed is unclear. But in South Korea, the public generally sees an improvement in the South Korean security situation according to a just-completed Chicago Council on Global Affairs survey. As a result, support for South Korea developing its own nuclear weapon appears to have waned, though a slight majority remains in favor. Despite what seems to be a slight sense of relief, the South Korean public is skeptical that either Moon or Trump can convince Kim Jong Un to fully denuclearize
Given that offshore tax havens are largely located in small, independent states or self-governing territories, it could be assumed that they have little connection to OECD states and major financial centers such as London and New York. This is not the case. The so-called tax havens are in fact part of a much larger network of financial and corporate services that depends on lawyers, accountants, and bankers located in major Western cities. Only one part of the havens’ business actually involves providing lower tax rates to individual foreign account holders
Topic:
International Affairs and Global Political Economy
Hearing my grandfather state, "I'm forever grateful to Kim Il-sung," baffled me. His words of gratitude to the first supreme leader and the eternal president of North Korea did not match his heartbreaking tale of defecting to the South during the Korean War. Recalling his stories of hiding in the mountains and his relatives trapped in the isolated dictatorial communist state, I couldn't fathom being grateful for a man who pushed my grandfather to make such a difficult choice when he was only a few years older than I am now.
Hellenic Foundation for European and Foreign Policy (ELIAMEP)
Abstract:
The United Nations Convention on the Law of the Sea, December. 10, 1982, (“UNCLOS”) lays down a comprehensive regime of law and order in the world’s oceans and seas establishing rules governing all uses of the oceans and their resources
Hellenic Foundation for European and Foreign Policy (ELIAMEP)
Abstract:
The rise and evolution of Daesh (al-Dawlah al-Islamīyah fī l-ʻIrāq wa-sh-Shām) marked a new and very interesting debate about the labeling of violent groups that are not traditional terrorist organizations and they are also acting with different roles and using alternate tactics and modus operandi, such as insurgency, within civil and regional conflicts.
Furthermore, the establishment of the so called “Caliphate” includes a new parameter in the scientific debate, the quasi state dimension. Daesh is a modern archetype of this vivid scientific debate, but the difficulties in labeling, especially in cases were terrorist groups are taking part in civil conflicts, is not new.
Labeling is not only a matter of “name and blame”, is important in order to design an effective and holistic counter terrorism strategy. The aim of this chapter is to discuss the different approaches about labeling nontraditional terrorist groups and to present the terrorist activity of Daesh.
Hellenic Foundation for European and Foreign Policy (ELIAMEP)
Abstract:
War is a socio-historic phenomenon, that is constantly developing and changes form rapidly, due to the immense development of military technology (accomplishments in industrial defense), which goes along with military inventiveness. In parallel, a need arises to shift the rules of war conduct (e.g. law in military conflicts), that is to say attempts have been made to normalize situations, which from the outset were unregulated. Man is a subject of war, who possesses consistent physical and intellectual features, is integrated in a relatively steady geographical and social environment and therefore some common characteristics are observed in the perception of war.
Hellenic Foundation for European and Foreign Policy (ELIAMEP)
Abstract:
Every time that Turkey acts in new ways abroad, various terms re-emerge in public discourse such as Pax Ottomana, Pax Turkana, Neo-Ottomanism, Pan-Turkism, Pan-Islamism and, recently, the notion of a “Blue Homeland”. But what is the heart of the matter?
As many have already noted, the “Blue Homeland” doctrine is not new in Turkish strategic thought. In the midst of the Turkish naval drills, many remembered the Turkish doctrine of two and a half wars and associated it with the drills. This paper, by Zenonas Tziarras, looks at the reasons why this perception is somewhat simplistic as the Turkish approach has gone way beyond the narrow doctrine of two and a half wars and expanded towards other directions.
Hellenic Foundation for European and Foreign Policy (ELIAMEP)
Abstract:
Working Paper by Dr. George N. Tzogopoulos, Director of EU-China Programs at the Center International de Formation Européenne (CIFE), Begin Sadat Center for Strategic Studies (BESA), Fellow and Lecturer at the Democritus University of Thrace, on the importance of the Chinese investments in Gwadar and Piraeus.
Rolling out the Belt and Road Initiative (BRI) China is largely investing in foreign countries’ ports that can function as transshipment hubs. Trade is boosted and new economic corridors are being opened. In that regard, the ports of Gwadar in Pakistan and Piraeus in Greece offer relatively similar opportunities for Chinese state-owned enterprises. A comparison of Chinese investments in the two ports demonstrate that similarities do exist indeed. However, differences are also evident and are principally linked to the dissimilar scope and scale of the investments in Gwadar and Piraeus, the national context of Pakistan and Greece respectively as well as the different type of their relations to China. On the whole, the Belt and Road Initiative can arguably foster closer economic collaboration between Islamabad and Athens and subsequently between Islamabad and Brussels in trade and foreign direct investments in a period during which Brussels has already launched the EU-Asia connectivity strategy and seeks to obtain tangible results.
Hellenic Foundation for European and Foreign Policy (ELIAMEP)
Abstract:
The monetary authority, which in the case of the European Economic and Monetary Union (EMU) is the European Central Bank (ECB), has among other things, the obligation to determine the monetary policy, aiming to influence basic parameters of the economy like the level of prices. In this paper the author tries to identify the impact of the monetary policy of the ECB on credit provision of European economies through the mortgage credit channel, including during the period of the crisis. More specifically, we employ data for the loans of commercial banks to households for housing purposes after a contractionary monetary policy by the monetary authority (increase of the main interest rate). Given that the mortgage channel has not been adequately studied during the crisis period for EU member states, this paper will contribute towards covering this gap in the literature.