Prince Michael of Liechtenstein

  French sovereign bonds are currently trading at yields comparable to those of Greek bonds. Although France’s bonds are still rated higher than Greece’s, they are edging toward the lowest investment-grade level. The unfavorable ratings are deserved: They are based on economic and fiscal realities. In fact, French bonds are still overrated; some might consider […]

  In a matter of days, a rebel alliance in Syria led by the Islamist militia group Hayat Tahrir al-Sham (HTS) brought vast swathes of the country under its control. Starting with Aleppo, followed by Hama and Homs, they entered Damascus over the weekend. President Bashar al-Assad himself has fled to Moscow. Syria is at […]

The war in Ukraine is approaching its fourth year, with an enormous toll in human lives and resources. Western allies have gradually allowed Ukraine to deploy modern missile technology across the Russian border. While this escalation has inflicted damage on Russia, it appears to be too little, too late. However, it might pressure Moscow to […]

The recent G20 meeting took place in Brazil, bringing together the heads of state and government from the world’s 20 leading economies. In a pompous and undeserved manner, the final declaration – the only official outcome of these extremely expensive meetings – begins with, “We, the Leaders.” These so-called “leaders,” whether democratic, authoritarian, Marxist or […]

While the coming changes in the White House and the dismal end of an ineffective German government have garnered significant attention from the media, far more consequential shifts in the global order are taking place. These developments are likely to have a lasting impact that surpasses the immediate political dramas unfolding in Washington and Berlin. China and […]