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Always bet on pragmatism defeating principle in foreign affairs

Published Wednesday, March 5th, 2014

Two conclusions can already be drawn from the Crimea crisis:-

– ownership of oil and gas resources are not a bad substitute for a military arsenal. When you have both you are king of the castle.

– always bet on pragmatism defeating principle when it comes to matters of foreign affairs.

Nothing new here I hear you say. Maybe not but rarely do you get such a brutal reminder of such realities. President Obama can push forcefully for sanctions because they will have little direct effect on the US economy. The EU is wobbly on sanctions because it will affect its members directly of which more below. Both should be worried about the impact on the global economy which is ill prepared for a shock.

To read the rest of the report, please click here 

Posted by David Hufton