The Road to the Present Why was the West surprised about the escalation in Ukraine? What went wrong on our side? And what conclusions do we need to draw from a sober analysis? Over many years we did not sufficiently support the pro-Western oriented social forces in Ukraine, Armenia, Belarus, Moldova, and Georgia. Since the …Read More


The German government’s decision to provide arms and military equipment to aid the Kurdish Regional Government in its fight against the Islamic State in Iraq and the Levant provides further evidence of its greater willingness to take on responsibility for international peace and security. The move will be welcomed by Germany’s allies and partners, who …Read More

About a year ago, markets were experiencing serious taper tantrums. At the time, ECB President Mario Draghi proudly defended the fact that unwinding outright asset purchases, and therefore reducing its huge balance sheet, was only a challenge for the U.S. Federal Reserve (Fed), and not for the euro zone. Indeed, at the time, European banks …Read More