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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.

"GOP - R.I.P"

For Republicans, the financial crash of Sept. 29, as the stock market fell over 700 points, will be remembered as the day which began their "exile" from political power. ++ Republicans in the House voted against their own party's bailout plan by a margin of 2 to 1, emphasizing their divided and seemingly leaderless state. ++ While the presidential race is still uncertain, it is obvious that Republicans will lose seats in the House and the Senate. ++ Despite that the GOP has been known to bounce back, it certainly appears dead.

The Fog of War, The Fog of Memory

US incursions into Cambodia, which led to its destabilization and the rise of the Khmer Rouge, should be remembered. ++ The same mistake is being made in Pakistan, where the dangers are far greater. ++ Undermining Pakistan does not help Afghanistan. ++ A new soft power approach is needed, as "Afghanistan cannot be transformed along Western lines" - a major factor, along with increased bombing of civilians, behind the Taliban's resurgence. ++ Locals need to establish a counter-insurgency; NATO should hunt terrorist networks.

Bailouts Work, But the Current Paulson Plan Won't

The Laevan and Valencia study of 42 recent bailouts shows they can work, yet the current Paulson plan may not. ++ "Paulson and Bernanke should use bailout money to recapitalize the banks, not buy bad assets." ++ Furthermore, the US bailout is likely to cost $2 trillion, not a mere $700 billion. ++ Successful bailouts usually include debt relief for consumers and businesses, which the current plan lacks. ++ In Norway, Sweden, and Korea, recent bailouts helped, boosting stocks and decreasing inflation within three years.

You Lose, I Lose Economics

Asia's role in the financial crisis shouldn't be underestimated. ++ Endless liquidity coupled with cheap goods fueled America's "buy-now pay-later consumption," inflating the housing bubble in the process. ++ The overextension is as much a story of "Asian prudence" as it is of "US recklessness;" Meanwhile, China and others grew at astounding clips. ++ While there has been a relative shift of gravity eastwards, the story is more akin to "you lose, I lose." ++ The shock could help the US - if it learns to save more and spend less.

Crisis in North Korea: Opportunity for Democracy

The possible regime crisis in N. Korea poses a threat of loose nukes, floods of refugees, and long-term economic upheaval, but is also a great chance to reunite the Peninsula under democratic rule. ++ The US-South Korean Forces may need to intervene to keep WMDs out of the wrong hands. ++ S. Korea fears an economic situation like that after the Berlin Wall, but the longer unification is delayed, the harder reunification will be. ++ The short-term humanitarian costs could be quickly regained with a market-oriented, international economy.

Pakistani Intelligence Battles Internal Extremism

Pakistan can no longer play its "dangerous double-game": accepting money form the US while also supporting the Taliban and other extremists. ++ General Kayani has appointed a new spy chief, Lt. Gen Ahmed Shuja, who must work to clean up the intelligence service, root out corrupt officials, and cut ties to extremists that threaten Pakistan's own fragile democracy. ++ American officials claim that certain members of Pakistan's intelligence service played a role in the bombing of the Indian Embassy in Kabul.

Economic Crisis Provides Cover for Military Blunders

By odd coincidence, or perhaps providence, $700bn is roughly the same amount of money squandered on Bush's "preposterous war in Iraq." ++ Ironically, the greatest economic crises since the great depression means Obama and McCain won't have to discuss the "greatest military crisis in America's history since Vietnam." ++ This has provided the cover for a strange narrative developing in the US: the surge was a success, victory in Afghanistan was achieved over five years ago, and arms sales to Israel are at unprecedented levels.

Obama Needs Foreign Policy Revamp

Obama's foreign policy proposals are too vapid; far from incipient or novel, we are subjected to his recycled ideas - which, albeit, were fresh when first espoused in the face of Bush dogmatism. ++ "These ideas have lost their oomph among discerning voters." ++ Catching Bin Laden, sending more troops to Afghanistan, and unconditional support for Georgia are all calls from the neocon playbook. ++ "More ideas, more energy, [and] more optimism" are needed from Obama. ++ To deliver the knockout blow, he'll have to "think outside the beltway."

The US Needs a Global Line of Credit

The US is following a pattern similar to Japan’s financial crisis in the 1990s, but ignoring the principles and method with which to handle it. ++ Unlimited liquidity in the market is needed and the world should help share the burden. ++ The US must ask the global community to provide $5 trillion for troubled financial institutions. ++ This should come from those who have collected dollar reserves like China, Japan, Taiwan, Russia, and the EU. ++ Someday, when the crisis passes, a global system must be made to prevent such mistakes.

Paulson 0, Democracy 1

"It is a glorious day for democracy." ++ With all members of the House up for re-election in November, the rejection of the Paulson plan is a clear indication of the American public will - Wall Street must be accountable, not the tax payers. ++ Americans distrust the Bush administration, question its trickle-down economic theory, and fear more allocations of public funds to political favorites, such as bailing out Goldman Sachs, Paulson's former company. ++ Congress must now create a plan to help tax payers keep their homes.