Newsletter – May 2015

Welcome to The Global Dispatches,

This month Charles Wyplosz, Professor of International Economics examines the likely fallout from Greek defaults; Amedeo Feniello, ex Directeur d’études invité at l’École de Hautes Études en Sciences Sociales of Paris highlights a fascinating episode in world trade involving murder and intrigue in London in 1379; Olivier Blanchard, the IMF's Chief Economist examines the state of the global economy; Lev Myshkin reviews the translation of Russian emigré writer Gaito Gazdanov's high octane novella published by Pushkin Press and John Feffer, the director of Foreign Policy In Focus takes a look at Obama's potential Foreign Policy legacy in Cuba, Iran and possibly Syria and much more...

The Divestment Dividend
By Emily Schwartz Greco

Given the financial rewards investors can reap for getting out of fossil fuels, the real question isn’t whether divestment is risky. It’s why anyone would willingly pollute their portfolio regardless of where they stand on climate change.

An assessment of the state of the world economy
By Olivier Blanchard

The IMF’s Chief Economist describes the complex forces that are shaping macroeconomic evolutions around the world and provides an overview of the state of the world economy.

Review: Gazdanov’s ‘The Spectre of Alexander Wolf’
By Allston Mitchell

Pushkin Press has published a priceless gem by the Russian emigré writer Gaito Gazdanov whose own life was about as exciting as this high octane novella. Highly recommended.

Murder in Lombard St: The Commercial War of 1379
By Amedeo Feniello

"There will be fight without quarter and no compromise toward any threat to London's market supremacy, including even assassination if need be".

The coming defaults of Greece
By Charles Wyplosz

It seems that there will be no agreement between Greece and its Eurozone partners. Short of cash, the Greek government will have no choice but to suspend payment of its maturing debts. Prof. Charles Wyplosz looks at what happens next. In brief, it will be very much up to the ECB to decide.

A case that blew the lid off the World Bank’s secret courts
By Jim Shultz

How Bolivian protesters and global activists exposed the dark side of global trade pacts and paved the way for the battles to come.

Obama’s Triple Crown
By John Feffer

Obama is no peace president, but he has won important diplomatic victories. Will they survive the 2016 election? He has two years to make the rapprochements with Iran and Cuba irreversible. If he can do that, and bring about a ceasefire in Syria, his diplomatic legacy will be secure.

China’s new silk roads tie together 3 continents
By Brian Eyler

China’s ‘new silk roads’ will have huge environmental consequences in Asia and Africa as giant infrastructure projects open up remote areas and build links reaching as far as Europe.

Deflation: Transferring Wealth to Rentiers
By Ann Pettifor

Deflation is taking hold across the world and the finance sector has so successfully captured the imaginations of policy makers that no one recognises the threat.

Yemen: seeds of conflict, ground of transition
By Prince Hassan of Jordan

The conflicts in Yemen belong to a complex history, with familial as well as political dimensions. The deep Yemeni context must be grasped if a humane solution is to be found.

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