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A careful selection and summary of editorials, commentaries, and analyses from the world’s leading newspapers and magazines to help you stay on top of the latest debates and developments in the transatlantic agenda. See list of monitoring sources.
Readers can also see how the perspectives and priorities diverge in different regions.

Beware Deflation

Deflation is the financial threat that might catch us unaware. ++ Relief from high food and oil prices is pleasant, but extreme price drops could signal economic havoc. ++ For now, falling prices will suppress inflation (5% in the US and 9% in Asia in 2008), and service industry prices are less volatile than raw goods, providing economic stability. ++ Ultimately, deflation threatens loan repayment and consumer spending. ++ In addition to interest rate cuts, we need stimulus through spending increases and tax cuts.

Iraq: Bon Voyage?

By the end of this year the UN mandate allowing US troops to operate in Iraq will expire. ++ Both countries have agreed to a US withdrawal and G. W. Bush has announced that troops will leave by 2011, “leaving only military trainers and air traffic controllers behind.” ++ The US should ask for an extension of its mandate and American troops should keep operating until a final agreement is decided. ++ Obama must introduce a “strategy for withdrawing American troops from Iraq” and come up with a plan for engaging Iran.

"Europe in Wonderland"

Actions undertaken by governments and central banks won’t be able to adress the financial crisis as other huge risks are threatening the financial system. ++ The world has benefited from over-consuming America, but the “US engine of growth” can’t be replaced by Asia, pushing the EU into a depression. ++ There is a need for macroeconomic and fiscal coordination at the EU level – principles of European economics have to be defined. ++ “The EU needs an economic government for the long crisis ahead” and Germany should take the leading role.

Strengthening US-Indo relations

The next administration might find itself entangled in a dispute over Kashmir as Obama wants Pakistan to cooperate in Afghanistan. ++ Obama strongly acknowledges the importance of a Indo-US partnership, but what “Indians fear is that they are being asked to pick up the political tab for America's failed policy in Afghanistan.” ++ If Obama wants India to cooperate he should “develop a joint set of initiatives with India for the stabilization of the region.” ++ Unilateral approaches will result in an early foreign policy defeat.

Blank Czech: The Next EU Presidency

The Czech government is ready for the EU presidency.++ "In the past two decades, the central and east European (CEE) economies have done their homework, introducing reforms, with bank bail-outs and privatizations." ++ The Czech presidency must address three problems: eurozone recapitalization, central European members vulnerable to a euro-wide recession, and new members needing financial support. ++ UK, French and German support of the Czech presidency is crucial as well as cooperation with non-EU CEE countries and Russia. 

How to Make a Grand Bargain for Afghanistan

“The 'Great Game' is no fun anymore.” ++ A timeout is needed in Afghanistan so that the players, including Obama, can draught a new deal. ++ A global effort to secure Afghanistan’s stability should be above other objectives. ++ Due to the complex global conflict, a solution cannot be reached without a “regional grand bargain,” which must include a comprehensive regional aid and development package. ++ The US must adjust its relationship with Pakistan with pressure, greater transparency and promotion of a Pakistani-Indian dialogue.

President Bush's Decency - No, Seriously

Election day must have been difficult for President Bush. ++ In 2006, Iraq was mired in a chaotic maelstrom of violence and terror. ++ Now, “victory” would probably look something like the current Iraq. ++ Nevertheless, Bush is a pariah of the very party he leads. ++ It’s a shame that Iraq has served as “a solar eclipse, blocking the light on every other achievement.” ++ “I have seen the decency of George W. Bush” and it includes “identifying with the dying African child, the Chinese dissident, the Sudanese former slave, the Burmese women's advocate.”

"Obama's Global to-do List"

President-elect Obama ran on promises of domestic, bipartisan harmony and international cooperation. ++ Immediate appointments should be made for secretaries of treasury, state and a national security advisor; moderate republicans should be included. ++ Nevertheless, “In capitals from Paris to Islamabad and from Moscow to Beijing, they are watching for changes in tone and substance in US foreign policy.” ++ The US should assist three Muslim democracies –Turkey, Indonesia and Pakistan – to set an example for the Arab world.

A New Deal for America

This election was special; a barrier was crossed and “America’s new deal” will begin. ++ This momentous occasion “will be seen as a miracle which could happen only in America.” ++ Obama, who “embodies the America of today and tomorrow” arrived at the perfect time. ++ Following an epoch of George Bush “go-it-alone belligerence,” Obama can restore hope and “we can love America again.” ++ The US needs to address the roots of global anti-Americanism, which stem from reasons other than Bush. ++ Obama is well suited to lead in that endeavor.

Don't Call Russia's Bluff, Ignore It

President Medvedev’s speech harshly attacked the United States and threatened to deploy new missile systems. ++ This threat is a bluff to trick the US or NATO allies into abandoning a plan for a simple missile system in Poland and the Czech Republic. ++ Russians know the system is aimed at Iran and couldn’t stop Russian ICBMs. ++ Obama is too smart to fall for such obvious attempts of power assertion. ++ The missile deployment should, indeed, be reconsidered, but Moscow’s threats should have nothing to do with it.