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142. Iran-GCC Relations under President Ahmadinejad: 2005-2009
- Author:
- Mohammad Hossein Hafezian
- Publication Date:
- 01-2011
- Content Type:
- Journal Article
- Journal:
- Iranian Review of Foreign Affairs
- Institution:
- Center for Strategic Research (CSR)
- Abstract:
- The election of Mahmood Ahmadinejad in Iran in June 2005 came to have an enormous impact on Iran's foreign relations, including Iran's relations with the Arab states of the Persian Gulf. The present article looks into the state and dynamism of bilateral relations between Iran and the GCC during the 2005-09 period. Placed in the context of the background of relations between the two sides since the 1979 Islamic Revolution in Iran and specifically the 8 years of confidence-building and détente under Khatami, the article discusses the factors that affected these bilateral relations during the period under review. It is argued that such factors as Ahmadinejad's peculiar foreign policy outlook and discourse, relations with the U.S., diverging postures towards Israel, threat perceptions, Iran's rising regional stature and influence in the post-2001 period, and also dispute on the three Iranian islands in the Persian Gulf and the name of the waterway, have each affected the state of relations. The review also shows the resilience of economic and trade ties between the two sides beyond the mere political realm and the outstanding issues and disagreements. Considering the inevitable negative impact of the continuing tension and conflict between Iran and the U.S. on the state of relations between Iran and the GCC, the paper emphasizes the imperative of confidence-building measures and policies by all the parties concerned–within the region and beyond. It concludes that any meaningful improvement–and ultimate rapprochement–in the U.S.-Iran relations, even though far-fetched or illusive at the time, would help these relations and the mutually-beneficial establishment of regional security arrangements in the Persian Gulf.
- Topic:
- Debt
- Political Geography:
- United States, Iran, Israel, and Arabia
143. Webinar: Lower the floor or raise the ceiling? US fiscal and economic outlook
- Author:
- Leo Abruzzese
- Publication Date:
- 04-2011
- Content Type:
- Working Paper
- Abstract:
- A serious deficit-reduction debate is underway. Despite wide policy differences, this is encouraging and long overdue. Agreement on some basic steps may happen soon. A serious, long-term deal won't happen until after the election. A credible plan will require revenue increases. These won't come quickly or easily, but they are unavoidable, The debt ceiling will be raised, amidst much drama. The US will not default on its debt. The US economy is still recovering...but higher energy and food prices are creating headwinds.
- Topic:
- Debt, Economics, Global Recession, and Financial Crisis
- Political Geography:
- United States
144. Why Ireland's Luck Ran Out and What This Means for the Eurozone
- Author:
- Shalendra D. Sharma
- Publication Date:
- 03-2011
- Content Type:
- Journal Article
- Journal:
- The International Spectator
- Institution:
- Istituto Affari Internazionali
- Abstract:
- Given its impressive economic performance over the past two decades, Ireland earned the title, the 'Celtic Tiger'. However, as the contagion from the subprime-induced global financial crisis spread, Ireland's boom went bust. In short order, Ireland (like Greece before it), had to seek financial assistance from the EU and the IMF to stave off sovereign default and national humiliation. How did Dublin and the eurozone respond to the crisis and what lessons can be learned from Ireland's experience? While Ireland grapples with its huge public debt, the EU needs to instill confidence in the markets before the current rolling debt crisis becomes a systemic threat to the eurozone.
- Topic:
- Debt and Economics
- Political Geography:
- Ireland and Dublin
145. The state of development in Africa: concepts, challenges and opportunities
- Author:
- Mills Soko and Jean-Pierre Lehmann
- Publication Date:
- 01-2011
- Content Type:
- Journal Article
- Journal:
- Journal of International Relations and Development
- Institution:
- Central and East European International Studies Association
- Abstract:
- Africa's marginalisation and development challenges are extensively documented. Africa's underdevelopment is a product of the interplay of external and domestic factors including slavery and colonialism, economic mismanagement, ill-conceived structural adjustment policies, inter-state and intra-state conflicts, failed regionalism, unfair trade terms, foreign debt, aid dependence, poor governance, weak states, and institutional decay.
- Topic:
- Debt
- Political Geography:
- Africa
146. Global fiscal consolidation
- Author:
- Warwick McKibbin
- Publication Date:
- 05-2011
- Content Type:
- Working Paper
- Institution:
- Lowy Institute for International Policy
- Abstract:
- The build up in government debt in response to the 'great recession' has raised a number of policy dilemmas for individual countries as well as the world as a whole. Where the government fiscal stimulus was seen as necessary to restore confidence to markets and stimulate deteriorating economies in the aftermath of the 'great recession' by 2010 the massive fiscal stimulus programs and associated run-up in debt had, for many economies, become a confidence sapping exercise. This need for a change of fiscal policy stance has fuelled another debate that has two related aspects. One is the impact of fiscal consolidation on economies that are tightening and the flow-on effects to the world economy. The other debate is how much tightening there should be and how quickly.
- Topic:
- Debt, Economics, Global Recession, and Financial Crisis
- Political Geography:
- Asia and Australia/Pacific
147. External versus Domestic Debt in the Euro Crisis
- Author:
- Daniel Gros
- Publication Date:
- 05-2011
- Content Type:
- Policy Brief
- Institution:
- Centre for European Policy Studies
- Abstract:
- As EU leaders muddle through the eurozone crisis, the debate about its root causes continues. CEPS Director Daniel Gros argues in this Policy Brief that the debate is important if we are to understand how to prevent future crises. In his view, external debt is the key to the turmoil in European economies and that the focus on total public debt is therefore misleading.
- Topic:
- Debt, Economics, and Financial Crisis
- Political Geography:
- Europe
148. The EU's Response to the Financial Crisis: A mid-term review
- Author:
- Karel Lannoo
- Publication Date:
- 04-2011
- Content Type:
- Policy Brief
- Institution:
- Centre for European Policy Studies
- Abstract:
- Two years after the London G-20, CEPS Chief Executive Karel Lannoo finds that the EU is well advanced in delivering on the commitments made for the 2013 target date. Important steps have been taken on the institutional side, and regulatory changes are moving ahead. On some issues, in fact, such as remuneration, the EU has made even greater headway than the US. But certain key sensitive matters remain, such as bank resolution or structural changes.
- Topic:
- Debt, Economics, Global Recession, Monetary Policy, and Financial Crisis
- Political Geography:
- United States, Europe, and London
149. Can the eurozone countries still live together happily ever after?
- Author:
- Marcello Messori
- Publication Date:
- 03-2011
- Content Type:
- Policy Brief
- Institution:
- Centre for European Policy Studies
- Abstract:
- After the Greek public debt crisis and the bilateral loans to Greece from the other members of the European Monetary Union (EMU), in May 2010 the Ecofin Council launched the European Financial Stabilization Mechanism (EFSM). In June of the same year the EMU countries instituted the European Financial Stability Facility (EFSF). These two mechanisms, which are charged with providing support to EMU countries in “exceptional difficulty”, received their baptism of fire with Ireland in January 2011 and successfully made their first bond issue on the market.
- Topic:
- Debt, Economics, and Monetary Policy
- Political Geography:
- Europe and Greece
150. Restoring financial stability in the euro area
- Author:
- Christian Kopf
- Publication Date:
- 03-2011
- Content Type:
- Policy Brief
- Institution:
- Centre for European Policy Studies
- Abstract:
- The pricing of sovereign credit risk is a necessary component of the financial architecture of the European Monetary Union. However, unnecessarily high and volatile risk premia on government bonds are currently preventing effective financial intermediation within the euro area, thereby inhibiting its economic recovery. Several proposals have been made on how these risk premia should be brought down, namely i) permanent pooling of funding through joint bond issuance, ii) temporary liquidity assistance through multilateral funds, iii) debt buybacks using multilateral funds, and iv) debt restructuring.
- Topic:
- Debt, Economics, Global Recession, Monetary Policy, and Financial Crisis
- Political Geography:
- Europe