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131. The risks from climate change to sovereign debt in Europe

Author:
Stavros Zenios
Publication Date:
07-2021
Content Type:
Policy Brief
Institution:
Bruegel
Abstract:
The exposure of European Union sovereigns to climate risks can be acute, from extreme weather, or chronic, from the productivity effects of gradual temperature increase, increased sea levels and the transition to a low-carbon economy that results in repricing of assets. Climate-related innovations can also spur growth. These risks are priced by investors and can affect sovereign credit ratings. Governments and fiscal stability authorities have an interest in the sovereign-debt implications of climate change being transparent. To this end, we look at the exposure of EU sovereigns to climate risks, study international best practices, and describe the transmission channels from climate change to public finance. European union institutions and national fiscal authorities should mainstream climate risk analysis in public finance. Stress testing of debt dynamic requires a link between regional climate scenarios and country debt dynamics. We argue for the adoption of an architecture of narrative climate scenarios, to guide national policymaking. Narrative Scenarios can be generated using integrated assessment models. As an illustration, we apply two prominent models to generate rough bounds on the extent of the risk for Italian debt from climate change. This raises issues about the models used. Coordination by EU institutions to develop regional scenarios will ensure acceptability, raise ambitions in dealing with climate risks and encourage the fiscal authorities to think of solutions. A network for climate-proofing public finance will bring together EU and member-state institutions. We also recommend budgeting for climate expenditures and contingent liabilities, and using risk-sharing instruments, with disclosure of the risks to public finance from climate change.
Topic:
Climate Change, Government, European Union, Fiscal Policy, and Sovereign Debt
Political Geography:
Europe

132. Building a Strong and Independent Iraq: Policy Guidance for the Biden Administration

Author:
Abram N. Shulsky
Publication Date:
01-2021
Content Type:
Policy Brief
Institution:
Hudson Institute
Abstract:
Formulating US policy toward Iraq can be a fraught matter, given all the debate and disagreement concerning the actions that brought us to the current situation. However, our policy must be formulated in light of it, regardless of views about our past actions. Policy formulation should begin with the realization that Iran has gained a predominant political and military influence in Iraq. Despite efforts of past PM Adel Abdul Mahdi and current PM Mustafa al-Kadhimi, many of the militias comprising the Popular Mobilization Forces (PMF) still answer to Iran, not the Iraqi government. Iran exerts widespread influence throughout the political class. Economically, Iraq remains dependent on Iran for energy;1 religious tourism from Iran to the holy sites in Karbala and Najaf is an important source of revenue; and Iran has flooded markets with cheap food and consumer goods. Although Iraqi oil production has rebounded, the economy remains relatively moribund and the level of basic public services is poor. (That Iraq flares off its natural gas at the same time it is importing it from Iran to produce electricity2 highlights the economic disfunction.) Popular discontent boiled over in 2019, leading to widespread protests. The protests took on an anti-Iranian aspect, and Iran-aligned PMF units attacked the protestors.
Topic:
Security, Foreign Policy, Agriculture, Economics, Government, Politics, and Military Affairs
Political Geography:
Iraq, Middle East, and United States of America

133. Germany’s New Government Coalition: A Red, Yellow or Green Light for German-Turkish Relations?

Author:
Ekrem Eddy Güzeldere
Publication Date:
12-2021
Content Type:
Policy Brief
Institution:
Hellenic Foundation for European and Foreign Policy (ELIAMEP)
Abstract:
After the national elections of 26 September 2021, the SPD, Greens and FDP formed for the first time in German history a three-party coalition. The new chancellor is Olaf Scholz (SPD), while the minister of foreign affairs is a woman, Annalena Baerbock (Greens), for the first time. The coalition agreement mentions Turkey only as an “important neighbor of the EU” and speaks of “worrying domestic political developments and foreign policy tensions.” During the election campaign, the Greens and Baerbock spoke of a value-based foreign policy guided by human rights, ecological issues and democratic standards would be guiding principles. Baerbock has been critical of Turkey: after it left the Istanbul Convention, for instance, or over the refugee deal and “violations of human rights and the rule of law.” The Greens remain the only party in the Bundestag, which still views the revival of Turkey’s EU accession process as a possibility. The Greens, and the FDP in particular, want to intensify exchanges between the two countries with civil society and youth exchange programs. The new Bundestag is the most diverse ever, with more German-Turks in parliament than ever before (18/19), and a German-Turk holding a ministerial position (agriculture) for the first time. Greens and FDP voters expect a harsher stance on countries like Turkey: a pragmatic approach à la Merkel would disappoint them. The future of bilateral relations will also depend on how cooperative or confrontational a position Turkey adopts. A best-case scenario is also possible: the next elections put a reformist government in power in Turkey, which will then be supported by the new German administration.
Topic:
Foreign Policy, Government, Bilateral Relations, and Elections
Political Geography:
Turkey and Germany

134. Making Sense of Cents: Parsing the U.S. Department of Defense’s FY 2022 Budget Request

Author:
Stacie L. Pettyjohn and Becca Wasser
Publication Date:
05-2021
Content Type:
Special Report
Institution:
Center for a New American Security (CNAS)
Abstract:
This report contextualizes the Biden administration’s discretionary funding request for the U.S. Department of Defense (DoD) in fiscal year (FY) 2022, referred to as the “skinny” budget request. The report considers what this initial request—which has not yet been touched by Congress—may mean for the full FY 2022 Presidential Budget Request, given the identified priorities and available resources. The only detailed figure included in the defense budget request is the topline of $715 billion, which is higher than former President Donald Trump’s $705 billion FY 2021 budget request. However, when adjusted for inflation, it amounts to a flat budget. This report identifies several strategic objectives from the skinny budget request, the Biden administration’s interim national security strategic guidance, and the priorities publicly laid out by DoD leadership for which the U.S. government will need to allocate resources. These objectives have implications for ongoing departmental efforts and resourcing. The authors assert that: The continued prioritization of China means the DoD must simultaneously modernize its conventional and nuclear forces to strengthen deterrence. The budget prioritizes additional missions for the DoD, like countering transnational threats—particularly climate change and biothreats such as COVID-19—but it does not resource these missions. There will be fewer resources for modernization due to pressure from the growing military personnel budget, as well as the operations and maintenance budget. The department will undertake these activities with fewer resources and less budgetary flexibility since the overseas contingency operations account has been terminated. However, this move will enhance long-term planning and should make it easier to align future budget requests with the strategy. The FY22 defense budget request identifies a number of planned activities and areas of emphasis, but it does not specify how much money will be allocated toward each area. This report focuses on six key areas of interest—the Pacific Deterrence Initiative (PDI), long-range fires, naval shipbuilding, research and development for technological innovation and readiness, nuclear modernization, and transnational threats—where the United States will need to make the greatest investments or tradeoffs.
Topic:
Defense Policy, Government, Nuclear Weapons, Budget, Finance, and Strategic Competition
Political Geography:
North America and United States of America

135. Building And Strengthening Public Trust In Government Policy Decisions And Institutions To Effectively Tackle Covid-19 In Cameroon

Author:
Dr. Asahngwa Constantine, Denis Foretia, Gobina Ronald, Wilfred Ngwa, Charlotte Bongfen, Odette Kibu, and Nkengafac Fobellah
Publication Date:
01-2021
Content Type:
Special Report
Institution:
The Nkafu Policy Institute
Abstract:
In Cameroon the battle against COVID-19 is far from over as the disease still continue to claim many lives and aggravates the deepening poverty situation of Cameroonians. According to reports from the Ministry of Health (as from 8th of December, 2020), Cameroon has recorded 24,752 infected cases, 23,344 recoveries and 433 deaths. [1] The economic consequences of the disease remain preoccupying as many people have experienced a decline in their businesses. The government of Cameroon through the Prime Minister published a national response plan which aimed at combating the disease, highlighting preventive measures and effective management of confirmed positive cases. Some of these measures include the prohibition of mass gatherings above 50 persons, maintaining physical distancing, wearing of face mask in public places, frequent handwashing with soap or using hand sanitizers and isolation of infected persons. [2] These measures and others are currently being implemented since March, 2020. Although the government has been doing its best to bring this pandemic to an end, this has not been without challenges. One of the challenges is the decline of public trust in government’s policy decisions and institutions, which if not given sufficient attention may compromise all the efforts and resources already galvanize for this battle against COVID-19.[3] Drawing from published literature, we discuss the factors responsible for the decline of public trust, how the lack of trust can hamper interventions and control efforts and some suggestions how this challenge can be tackled to enhance effective interventions to combat COVID-19 in Cameroon.
Topic:
Government, Health, Institutions, Public Sector, Public Health, Pandemic, COVID-19, and Global Health
Political Geography:
Africa and Cameroon

136. Saudi Arabia: A Colossus with Clay Feets/Arabia Saudí: Un coloso con los pies de barro

Author:
Eugenia López-Jacoiste Díaz
Publication Date:
10-2021
Content Type:
Journal Article
Journal:
Revista UNISCI/UNISCI Journal
Institution:
Unidad de investigación sobre seguridad y cooperación (UNISCI)
Abstract:
The political-religious foundation of the Kingdom of Saudi Arabia is Wahhabism that marks its identity, society and politics. The Al Saud dynasty defends and expands Sunni Islam in the region and beyond its borders. In order to understand the interests and objectives of Saudi foreign policy, this article analyzes the main geopolitical elements at the service of the stability and hegemony of the Al Saud house in the most turbulent region of the Middle East. The Saudi government is developing a foreign policy, unsuspected in the past, to maintain its historic alliance with Washington, despite the ups and downs, and to transform the old rivalries between Riyadh and Tehran into new opportunities, including with Israel. This change in Saudi foreign policy is due to the controversial Crown Prince Mohamed bin Salman who knows how to take advantage of the changing regional geopolitics and Saudi financial instruments, but also the military and technological in favor of a more proactive and modern Saudi Arabia, despite his weaknesses./El fundamento político-religioso del Reino de Arabia Saudí es el wahabismo que marca su identidad, su sociedad y su política. La dinastía Al Saud defiende y expande el islam sunní en la región y fuera de sus fronteras. Para poder entender los intereses y objetivos de la política exterior saudí, este artículo analiza los principales elementos geopolíticos al servicio de la estabilidad y hegemonía de la casa Al Saud en la región más convulsa de Oriente Medio. El Gobierno saudí está desarrollando una política exterior, insospechada en el pasado para mantener su histórica alianza con Washington, a pesar de los altibajos, y transformar las viejas rivalidades entre Riad y Teherán en nuevas oportunidades, incluso con Israel. Este cambio en la política exterior saudí se debe al controvertido Príncipe Heredero Mohamed bin Salmán que sabe aprovechar la cambiante geopolítica regional y los instrumentos financieros saudíes, pero también los militares y tecnológicos a favor de una Arabia Saudí más proactiva y moderna, a pesar de sus debilidades.
Topic:
Foreign Policy, Government, Oil, Military Affairs, Geopolitics, and Wahhabism
Political Geography:
Iran, Middle East, Israel, Yemen, Saudi Arabia, Syria, Persian Gulf, and United States of America

137. Digital Activism and Authoritarian Adaptation in the Middle East

Author:
Larry Diamond, Eileen Donahoe, Ahmed Shaheed, Benjamin Greenacre, James Shires, Alexei Abrahams, Joshua Tucker, Xiao Qiang, Marwa Fatafta, Andrew Leber, Alexei Abrahams, Marc Owen Jones, Afef Abroughi, Mohamed Najem, Mahsa Alimardani, Mona Elswah, Alexandra A. Siegel, H. Akin Unver, Ahmet Kurnaz, Anita Gohdes, and Zachary Steinert-Threlkeld
Publication Date:
08-2021
Content Type:
Research Paper
Institution:
Project on Middle East Political Science (POMEPS)
Abstract:
The Project on Middle East Political Science partnered with Stanford University’s Center for Democracy, Development and the Rule of Law and its Global Digital Policy Incubator for an innovative two week online seminar to explore the issues surrounding digital activism and authoritarianism. This workshop was built upon more than a decade of our collaboration on issues related to the internet and politics in the Middle East, beginning in 2011 with a series of workshops in the “Blogs and Bullets” project supported by the United States Institute for Peace and the PeaceTech Lab. This new collaboration brought together more than a dozen scholars and practitioners with deep experience in digital policy and activism, some focused on the Middle East and others offering a global and comparative perspective. POMEPS STUDIES 43 collects essays from that workshop, shaped by two weeks of public and private discussion.
Topic:
Security, Civil War, Government, Human Rights, Science and Technology, Infrastructure, Authoritarianism, Political Activism, Democracy, Media, Inequality, Social Media, Surveillance, Borders, Digital Culture, and Cyberspace
Political Geography:
Russia, China, Middle East, and North Africa

138. Kuwait’s New Government: A Political System in Crisis?

Author:
Eran Segal
Publication Date:
04-2021
Content Type:
Working Paper
Institution:
Moshe Dayan Center for Middle Eastern and African Studies
Abstract:
Kuwait’s new government, which was sworn in on March 3, is facing what could be a "perfect storm," combining a troublesome mix of political and economic problems that could lead to a substantial change, and perhaps instability. These developments raise the specter of a crisis similar to that of 2012, when Kuwait experienced two separate elections and massive demonstrations.
Topic:
Government, Politics, and Crisis Management
Political Geography:
Middle East and Kuwait

139. Is the Muslim Brotherhood losing Turkey and Qatar in the light of the rapprochement with Egypt?

Author:
Michael Barak
Publication Date:
07-2021
Content Type:
Working Paper
Institution:
Moshe Dayan Center for Middle Eastern and African Studies
Abstract:
Egypt's relations with Turkey and Qatar have been improving for the last six months, following a long period of diplomatic crises and hostility that lasted eight years and four years, respectively. This rapprochement is an attempt to reset relations in a way that would allow all three parties to maintain their good relations with the new U.S. administration. As a condition for normalizing ties, Egypt had demanded that Turkey and Qatar end their support to the Muslim Brotherhood (MB). This demand has been described in the Arab media as an ominous sign for the MB, which feared it would be sacrificed on the altar of Turkish and Qatari state interests. However, the discourse of the MB's members on the subject, the continued anti-Egyptian remarks of senior Turkish government officials, and the intention of the Egyptian government to execute senior MB leaders suggests that the chances of Turkey and the MB ending their relationship are quite slim. Qatar, for its part, continues to allow the MB's members to find refuge within its borders, but at the same time is not interested in provoking Egypt.
Topic:
International Relations, Diplomacy, Government, and Muslim Brotherhood
Political Geography:
Turkey, Middle East, Egypt, Qatar, and Gulf Nations

140. Jordan: With Relations with Washington and Jerusalem Back in Order, a Flurry of Diplomatic Activity

Author:
Joshua Krasna
Publication Date:
10-2021
Content Type:
Working Paper
Institution:
Moshe Dayan Center for Middle Eastern and African Studies
Abstract:
Jordanian diplomacy has been invigorated in recent months, with Jordan taking a major and sometimes leading role in significant regional developments. The renewed intensity and prominence are associated with marked improvement in relations with the United States and Israel, following the leadership changes in both countries. King ʿAbdullah II seems to have received a fresh mandate from the Biden Administration to help promote regional changes aimed at reducing the influence of Iran and its allies, in an era of declining direct American engagement in the region.
Topic:
Diplomacy, Government, and Bilateral Relations
Political Geography:
Russia, Iraq, Israel, Palestine, Lebanon, Syria, Egypt, Jordan, and United States of America