Jim Yardley, James Kanter and Jack Ewing / The New York Times
Greece missed a crucial debt payment to the International Monetary Fund, the fund said early Wednesday, deepening a crisis that has haunted world leaders and financial markets over the past week.
Julie Pace / Assoicated Press
President Barack Obama announced Wednesday that the U.S. and Cuba will reopen their embassies in Havana and Washington, heralding a “new chapter” in relations after a half-century of hostility.
Voice of America
A controversial government agency that helps U.S. companies export goods will officially go out of business at 0400 UTC Wednesday (midnight Tuesday EDT), but supporters think they can rescue the U.S. Export-Import Bank in a week or so.
The Economic Times
Indian Foreign Secretary Subrahmanyam Jaishankar had a series of interactions with interlocutors in the US government on issues ranging from ease of doing business to cooperation on terrorism and climate change.
National Security & Strategy
Daniel Trotta and Matt Spetalnick / Reuters
U.S. President Barack Obama affirmed to Cuban President Raul Castro their decision to restore diplomatic relations and said the former Cold War enemies could reopen embassies in each other’s capitals beginning July 20, the Caribbean country said on Wednesday.
Don Melvin / CNN
In a dramatic demonstration of its expanding reach, ISIS apparently launched simultaneous attacks Wednesday on five Egyptian military checkpoints, killing 20 Egyptian soldiers and injuring 30 others.
Sami Aboudi / Reuters
Shells fired by Yemen’s dominant Houthi group killed 18 people near the southern port city of Aden early on Wednesday, local officials and witnesses said, while the United Nations warned a dengue fever outbreak in Aden was rapidly gaining pace.
ISIS militants continued to target civilians in the Syrian town of Kobani on Friday, a day after what activists called the “second largest massacre” since the militant group declared an Islamic caliphate a year ago across parts of Syria and Iraq.
Carol E. Lee and Colleen McCain Nelson / The Wall Street Journal
The U.S. and Brazil pledged to work toward new commitments to reduce the impact of climate change, extolling a revived relationship during a long-delayed visit by the Brazilian leader. Tuesday’s climate announcement marks a modest step forward in President Barack Obama’s effort to elicit agreements from world leaders in advance of a December meeting in Paris where he hopes to complete a global accord.
Simon Denyer / The Washington Post
On Tuesday, China formally submitted its climate change action plan to the United Nations. The document, which can be viewed here (in Chinese first, and then in English), formalizes the commitment made by President Xi Jinping alongside President Obama last November – to reach a peak in emissions by 2030, and make “best efforts to peak early.”
Princeton Plasma Physics Laboratory
Researchers at the U.S. Department of Energy’s (DOE) Princeton Plasma Physics Laboratory (PPPL) have developed a detailed model of the source of a puzzling limitation on fusion reactions. At issue is a problem known as the “density limit” that keeps donut-shaped fusion facilities called tokamaks from operating at peak efficiency.
Laurence Norman and Carol E. Lee / The Wall Street Journal
President Barack Obama said he is prepared to walk away from a nuclear deal unless Iran accepts a tight monitoring regime as negotiators extended talks for a week past Tuesday’s deadline to reach a comprehensive agreement.
On Our Flashpoint Blog
American Security Project
Andrew Holland, ASP’s Senior Fellow for Energy Security spoke with David Ferris, a reporter for EnergyWire and E&E Publishing about Cuba’s energy system.
Indeed, economic ramifications of a Greek default for the rest of the world may be slight. Global stock markets opened with a drop Monday morning, following the announcement of capital controls and the extended bank holiday, but seem to have leveled off in the time since. Developments have occurred slowly enough that financial institutions enjoyed ample time to limit their exposure to Greek volatility, and the earliest Greek bailout was used to shore up private banks that held large amounts of Greek public debt.
Despite being one of the worldwide leaders in reactor technology and export for the past four decades, the US position of nuclear market dominance is currently in peril. Congress is currently considering the authorization of the Export-Import (Ex-Im) Bank
Assuming the successful conclusion of an agreement, the U.S. will face another hurdle in the process: the final process of lifting or relaxing sanctions will be submitted to Congress, as they have 30 days to review and agree to the finalities of the Iran Nuclear talks. If the agreement assures an end to the Iranian nuclear threat, it will be hard for Congress to overlook the potential of this deal.
ASP Recently Published
American Security Project
Latin America and the Caribbean are critical regions for U.S. security, but the lack of open communication between the U.S. and Cuba weakens America’s ability to operate in these areas. Open dialogue with Cuba will help the U.S. maintain security, and could also bring potential economic opportunities.
Understanding that the isolation of Cuba has not proven to be an effective policy, this paper examines a variety of possibilities for cooperation between the United States and Cuba.
American Security Project
Economic diplomacy is the utilization of all national economic instruments in furtherance of the national interest when engaging with other nations. It is the new frontier of foreign policy in an interconnected world. Principles in Action: Economic Diplomacy as the New Face of American Global Leadership, explains and analyses a variety of U.S. economic diplomacy efforts, and provides key recommendations for improvement.