Managing the power system is a complex task. Supply and demand, as well as increases or decreases of the energy flows, have always to be perfectly balanced in every moment due to the characteristics of electric networks and to the costs and difficulties to efficiently stock electricity. For market participants this means continuous forecasting, recalculating and balancing their market positions, until real time.
Imagine for a moment that the so-called Western Balkan countries were as rich and democratically consolidated as Switzerland, Norway or even tiny Iceland: would you doubt for a second that the EU leaders would not beg them to join the Union? Especially after Brexit has instilled so much impending doom into minds of the political class in Berlin, Paris and elsewhere. Accepting rich and politically straightforward new members would be a welcome remedy against Angst in the corridors of power throughout the continent!
As the Group of 20 (G20) leaders assemble in Hamburg for their 12th summit on July 7-8, 2017, many wonder whether G20 summitry is worth the time and trouble, especially amidst the high profile divisions between German chancellor Angela Merkel’s open, cooperative Europe and President Donald Trump’s protectionist United States. Even if at Hamburg G20 leaders manage to make clear commitments, many doubt that they will actually deliver them once they leave their sunny global summit peak and return to the dark, distracting valleys of domestic politics back home.
WHAT IS THE G20?
The G20 is an international group initially founded in 1999 after the Asian financial crisis as a forum for the finance ministers and central bank governors of 19 countries and the European Union. In 2008, in the midst of the global financial crisis, the US President George W. Bush invited the leaders of the G20 members to coordinate actions in order to respond to the crisis giving the start to the actual G20 Leader’s Summit. Since 2010 the meeting is held annually and the host country change every year.
The following excerpt is a slightly revised English translation of the Executive Summary of an ISPI in-depth analysis for the Italian Parliament. The complete version of the report is available here (Italian).
Officially announced by president Xi Jinping in 2013, the Belt and Road Initiative (BRI) has since become the centrepiece of China’s economic diplomacy.
It is a commitment to ease bottlenecks to Eurasian trade by improving and building networks of connectivity across Central and Western Asia, where the BRI aims to act as a bond for the projects of regional cooperation and integration already in progress in Southern Asia.
But it also reaches out to the Middle East as well as East and North Africa, a truly strategic area where the Belt joins the Road. Europe, the end-point of the New Silk Roads, both by land and by sea, is the ultimate geographic destination and political partner in the Belt and Road Initiative.
This report, edited by Alessia Amighini, provides an in-depth analysis of the BRI, its logic, rationale and implications for international economic and political relations.
The Italian G7 (26–27 May) takes place during momentous times for international politics. Many Heads of State and Government meeting in Taormina are new to the forum, and some of them hold radically different views. On top of that, France and the United Kingdom are in the midst of their national electoral campaigns, while Germany goes to the polls in September. Italy has approached its 2017 Presidency with realistic goals and by keeping a cool head.
The G7 summit, being held today and tomorrow in the splendid setting of Taormina, Sicily, boasts particular significance amidst the growing fragility in global governance.
The political atmosphere is becoming intense inside Iran as the Islamic Republic is preparing for the twelfth presidential election. Six candidates passed through the Guardian Council’s vetting process. In the list of candidates are President Rouhani, and his Vice President Mr. Eshagh Jahangiri, Ebrahim Raisi, who is the custodian of Astan Ghods Razavi, the biggest religious endowment in Iran, the Mayor of Tehran Mohammad Bagher Ghalibaf, Mr.
Algeria has recently been at the center of multiple discussions and speculations. Several analysts believe that the country is about to face the second wave of the so-called “Arab Spring”. The regime would collapse and a civil war would follow. Six years after the Arab uprisings, the Algerian regime showed a remarkable degree of stability and continuity.
Latin America is at a crossroads. The “golden age” inaugurated with the turn of the new millennium seems a faint memory. Economies that had grown at a steady pace are now slowing down, while some are in freefall.
Politically, the “pink tide” of populist movements is now ebbing. From Brazil to Venezuela, from Argentina to Bolivia, left-leaning leaders across the region seem to have lost their bond with the people. Their promises of an equitable society through an apparently never-ending redistribution of wealth crashed against the reality of shortsighted and unsustainable policies. Political and social turmoil are heralding an era of changes and – maybe – of new opportunities for Latin America. And this ‘great transformation’ is precisely what this volume is all about.
Where is it leading to? Does it mark the beginning of a new age? Which lessons can be learnt from the past? Leading international scholars and experts scratch beneath the surface of Latin America’s current crisis to have a clearer glimpse of what the future holds and draw policy recommendations, especially for the EU.
Stopping deflation has been the most important macroeconomic policy target for Japan for more than 15 years. Japan’s nominal GDP was its highest level of 523 trillion yen in 1997 and had been declining to 472 trillion yen in 2011, one year before Abenomics, macroeconomic policies under Abe cabinet, was launched. The Japanese economy was stuck in a deflationary cycle for many years. Very aggressive monetary policy under Abenomics was effective to change the deflationary trend.