European Institute

The United States and Russia are now at daggers drawn over Syria. Following the collapse of the ceasefire negotiated last month by Secretary of State John Kerry and Foreign Minister Sergei Lavrov, the United States has abandoned talks with the Russians on Syria. Meanwhile, in a supposedly unrelated part of the relationship, Russia has suspended the 2000 agreement between the two countries on ridding themselves of excess stocks of weapons-grade plutonium. 

The zero dollar contract under which the U.S. Department of Commerce designated ICANN (Internet Corporation for Assigned Names and Numbers) to provide the crucial “IANA (Internet Assigned Number Authority) function" expired last weekend. Proposed legislation sponsored by Senator Ted Cruz was not adopted as part of a continuing resolution — and a last minute injunction sought by attorney generals of four states was turned down by a federal judge.

Who bails out failed banks this time? With what means – public and/or private? And, to what extent to ensure safety, soundness in financial markets?

With numerous banks throughout Europe showing troubling balance sheets – the bad debts and non-core assets increasingly undermining financial institutions’ profitability in a sluggish global economy – Europe’s leaders, central banks, and investors are debating what should be done quickly to prevent bank failures, bolster investor confidence, and ensure that another global financial crisis does not flare up. On the sidelines of this week’s World Bank-IMF meetings, the issues are high among bankers’ concerns.