Diplomacy and International Politics

Michael Greenwald writes that with the recent change of leadership at the European Central Bank, the euro likely has a bright future ahead.

As tensions mounted between the United States and Iran, European nations pressed for a calm response, fearing that any escalation could disrupt trade through the region’s vital Strait of Hormuz, which carries up to a third of global crude oil exports traded via ships. If the strait is blocked or trade there is disrupted by conflict, analysts predict oil prices would surge.

This report, the second Social Development Report from ESCWA, documents an increase in inequality of access to good quality education and to good jobs in several countries of the region, which may further entrench income inequalities. 

If oil prices remain low over the long term, the Middle East could suffer a macroeconomic shock of historic proportions. Although some countries in the region are better positioned for revenue shortfalls than others, all will have to make tough choices now to ensure future prosperity.

Natalie Jaresko (MPP ’89), former Finance Minister of Ukraine, returned to Harvard on October 31^st, 2016 to take part in the Future of Diplomacy Project’s international speaker series. In a public seminar moderated by Faculty Director Nicholas Burns, Jaresko, who currently serves as chairwoman of the Aspen Institute Kyiv, reflected on her time in office from 2014 to 2016. In her two years in office, the Ukrainian government  had to contend with the Russian annexation of Crimea, a national debt crisis, widespread governmental corruption, and political instability.