Comments written by Prince Michael of Liechtenstein himself provide an informed viewpoint on crucial geopolitical issues. Sometimes challenging and always thought-provoking, these brief commentaries take a stance that stimulate debate.
The sense and nonsense of economic sanctions
Economic sanctions are occasionally useful in trade conflicts, but they work poorly when employed as a political tool. The United States and the EU would have accomplished more had they responded to Russia’s 2014 aggression against Ukraine with immediate increases in defense spending and kept their military options open.
Elections in Zimbabwe: An African tragedy
A richly endowed country, Africa’s former breadbasket Zimbabwe, has become a basket case of a state due to idiosyncratic policies, systemic plundering and violence after 1980, when alleged “liberation” forces, in fact terror groups, took power. The nonagenarian dictator Robert Mugabe was finally removed in a palace coup, but the problematic election on July 30, 2018 shows that Zimbabwe’s plight is far from over.
Thank you, Mr. Trump
U.S. President Donald Trump is right that both the EU and China use unfair trade practices. Now, his threats to impose tariffs on European goods – hypocritically branded “protectionist” by many countries with higher trade barriers – have brought EU officials to the negotiating table. Perhaps the EU will finally engage in freer trade, to the benefit of Europe and the world.
Think of the unthinkable
For nearly two decades, the EU’s common currency system has worked wonders for internal trade. The euro has strengthened Europe’s financial position in the world. However, many government and EU leaders, and the European Central Bank have colluded in circumventing the system’s key safeguards. Today, the unmanageable levels of sovereign debt threaten to tear up the eurozone and trigger state bankruptcies.
Dark clouds gathering over the global economy
We are probably coming to the end of a global economic recovery. But with interest rates still hovering around zero, central banks will have no ammunition to fight a recession. Meanwhile, debt is high and more trade barriers are going up. The underlying causes of global economic imbalances, and not just the symptoms, must be addressed.
Before leaping at the opportunity to question the results of Sunday's election in Turkey, politicians and media in Europe and the United States would do well to consider the basis of President Recep Tayyip Erdogan's appeal. Until Western leaders take into account Turkey's emerging regional role and interests, they cannot hope to have any influence on its politics.
Europe’s data regulation conundrum
The European General Data Protection Regulation (GDPR) came into force last month. In general, it is heartening that the EU is taking individual privacy seriously. But for all of the bureaucracy created by the regulation, it doesn’t address the biggest danger: government abuse of personal data
Italy’s new coalition – a necessary disruption?
The coalition government finally announced by Italy’s two euroskeptic parties is being bemoaned in Europe as right-wing and populist, turning Italy into a threat to the entire eurozone. But its predecessors in Rome were the ones who put the country in its current financial quandary.