Italy does not have a National Security Strategy (NSS) in the strict sense of the word, ie, a single governmental document for the medium-to-long term identifying the main security threats and response guidelines at a strategic level. Instead, it has several documents on the institutional responsibilities for the external (military) and internal (civil) dimensions of security.
There are two major handicaps that will make very difficult for the euro to overtake the US dollar as a dominant currency. First, the EA still has a very fragmented banking and capital market, which makes it more difficult to fully exploit economies of scale and of scope and network externalities.
Something extraordinary has happened during the Global Crisis that started in 2007. Despite acute financial turmoil and massive injections of liquidity, exchange rates in the euro area have not faced the kind of speculative attacks that were the unavoidable feature of every previous crisis.
Turkey’s EU accession negotiations, started in October 2005, are going very slowly for many reasons, including the government’s continued refusal to open its ports and airports to vessels and aircraft from Greek Cypriot-controlled Cyprus (an EU member since 2004).
After nearly a century of dominance of the international monetary system, has the US dollar finally met its match in the euro? A struggle for monetary leadership could become a source of sustained tensions in US-European relations. Fortunately, however, there seems relatively little risk of a destabilising escalation into outright geopolitical conflict.
This paper explores the different challenges that the financial crisis has posed to the Euro area and its governance.
The idea put forward in this paper is that a strong political accord, which would strengthen the relations between the EU and Russia in general, and hence improve relations in all energy sectors, should be pursued by both parties.
Since his inauguration in 2005, Iran’s foreign policy focus has shifted from Africa to Latin America in order to, as Ahmadinejad puts it, ‘counter lasso’ the US.
This working paper offers an international legal perspective on the diverse and conflicting international reactions in response to Kosovo’s Declaration of Independence on 17 February 2008.
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