Podcasts about medley advisors

Crisis Cycle: Challenges, Evolution, and Future of the Euro (Princeton UP, 2025) John Cochrane Luis Garicano Klaus Masuch PRINCETON UNIVERSITY PRESS, 2025 Launched 26 years ago, the euro was never expected to have an easy life but it wasn't supposed to be this hard. A three-year solvency crisis, a string of bailouts, and a rescue by the European Central Bank (ECB) was followed by threats of deflation, negative interest rates, massive purchases of government debt, a global pandemic, a European land war, and an inflation surge. The euro area emerged from these tests but may not survive the next without reforms during this period of relative calm. In Crisis Cycle, economists John Cochrane, Luis Garicano, and Klaus Masuch call for critical reforms to rebuild the system's incentive structure and stop the ECB's unsought mission creep. "A beautiful ship was constructed," they write. "Out at sea, it ran into severe storms. Its captain and crew patched the holes as best they could. Now though it is time to return to the dry dock and fix the ship properly". John Cochrane is a professor of economics at Stanford University, best-known for his work on asset prices and the fiscal theory of the price level. Luis Garicano is an economics professor at the London School of Economics and former vice-chair of the Renew group in the European Parliament. Klaus Masuch recently retired from the ECB, where he was head of the monetary policy strategy department and a negotiator for the "Troika" of official creditors during the sovereign-debt crisis. To see the authors' own book recommendations, click here. Tim Gwynn Jones is an economic and political-risk analyst at Medley Advisors, who also writes 242.news on Substack. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network

Crisis Cycle: Challenges, Evolution, and Future of the Euro (Princeton UP, 2025) John Cochrane Luis Garicano Klaus Masuch PRINCETON UNIVERSITY PRESS, 2025 Launched 26 years ago, the euro was never expected to have an easy life but it wasn't supposed to be this hard. A three-year solvency crisis, a string of bailouts, and a rescue by the European Central Bank (ECB) was followed by threats of deflation, negative interest rates, massive purchases of government debt, a global pandemic, a European land war, and an inflation surge. The euro area emerged from these tests but may not survive the next without reforms during this period of relative calm. In Crisis Cycle, economists John Cochrane, Luis Garicano, and Klaus Masuch call for critical reforms to rebuild the system's incentive structure and stop the ECB's unsought mission creep. "A beautiful ship was constructed," they write. "Out at sea, it ran into severe storms. Its captain and crew patched the holes as best they could. Now though it is time to return to the dry dock and fix the ship properly". John Cochrane is a professor of economics at Stanford University, best-known for his work on asset prices and the fiscal theory of the price level. Luis Garicano is an economics professor at the London School of Economics and former vice-chair of the Renew group in the European Parliament. Klaus Masuch recently retired from the ECB, where he was head of the monetary policy strategy department and a negotiator for the "Troika" of official creditors during the sovereign-debt crisis. To see the authors' own book recommendations, click here. Tim Gwynn Jones is an economic and political-risk analyst at Medley Advisors, who also writes 242.news on Substack.

Crisis Cycle: Challenges, Evolution, and Future of the Euro (Princeton UP, 2025) John Cochrane Luis Garicano Klaus Masuch PRINCETON UNIVERSITY PRESS, 2025 Launched 26 years ago, the euro was never expected to have an easy life but it wasn't supposed to be this hard. A three-year solvency crisis, a string of bailouts, and a rescue by the European Central Bank (ECB) was followed by threats of deflation, negative interest rates, massive purchases of government debt, a global pandemic, a European land war, and an inflation surge. The euro area emerged from these tests but may not survive the next without reforms during this period of relative calm. In Crisis Cycle, economists John Cochrane, Luis Garicano, and Klaus Masuch call for critical reforms to rebuild the system's incentive structure and stop the ECB's unsought mission creep. "A beautiful ship was constructed," they write. "Out at sea, it ran into severe storms. Its captain and crew patched the holes as best they could. Now though it is time to return to the dry dock and fix the ship properly". John Cochrane is a professor of economics at Stanford University, best-known for his work on asset prices and the fiscal theory of the price level. Luis Garicano is an economics professor at the London School of Economics and former vice-chair of the Renew group in the European Parliament. Klaus Masuch recently retired from the ECB, where he was head of the monetary policy strategy department and a negotiator for the "Troika" of official creditors during the sovereign-debt crisis. To see the authors' own book recommendations, click here. Tim Gwynn Jones is an economic and political-risk analyst at Medley Advisors, who also writes 242.news on Substack. Learn more about your ad choices. Visit megaphone.fm/adchoices

Crisis Cycle: Challenges, Evolution, and Future of the Euro (Princeton UP, 2025) John Cochrane Luis Garicano Klaus Masuch PRINCETON UNIVERSITY PRESS, 2025 Launched 26 years ago, the euro was never expected to have an easy life but it wasn't supposed to be this hard. A three-year solvency crisis, a string of bailouts, and a rescue by the European Central Bank (ECB) was followed by threats of deflation, negative interest rates, massive purchases of government debt, a global pandemic, a European land war, and an inflation surge. The euro area emerged from these tests but may not survive the next without reforms during this period of relative calm. In Crisis Cycle, economists John Cochrane, Luis Garicano, and Klaus Masuch call for critical reforms to rebuild the system's incentive structure and stop the ECB's unsought mission creep. "A beautiful ship was constructed," they write. "Out at sea, it ran into severe storms. Its captain and crew patched the holes as best they could. Now though it is time to return to the dry dock and fix the ship properly". John Cochrane is a professor of economics at Stanford University, best-known for his work on asset prices and the fiscal theory of the price level. Luis Garicano is an economics professor at the London School of Economics and former vice-chair of the Renew group in the European Parliament. Klaus Masuch recently retired from the ECB, where he was head of the monetary policy strategy department and a negotiator for the "Troika" of official creditors during the sovereign-debt crisis. To see the authors' own book recommendations, click here. Tim Gwynn Jones is an economic and political-risk analyst at Medley Advisors, who also writes 242.news on Substack. Learn more about your ad choices. Visit megaphone.fm/adchoices

Donald Trump is putting liberal democracy through its greatest test in 80 years.  None of it is original. His style of rule is straight from the democratic backsliders' playbook. To secure long-term power rather than short-term office, rulers must take over the institutions that check and balance majority rule and bend them to their will. Trump has tamed Congress and inserted his people into the Supreme Court, law enforcement, intelligence, and competition regulation but - to his great frustration - the Federal Reserve is holding out. It was the same story in Hungary after Viktor Orbán returned to the premiership in 2010. Bound by EU law and the mandates of the governor and his deputies, Orbán had to wait three years to break the national bank. One of those deputy governors, Júlia Király, experienced state capture from the inside and resigned with a public protest at the loss of institutional independence. Now an associate professor of finance and monetary economics at the International Business School in Budapest, she began her career under socialism at the statistics and planning offices. As deputy governor, she was part of the team that managed the Hungarian economy through the post-2007 financial crisis – an experience she chronicles in Hungary and Other Emerging EU Countries in the Financial Storm: From Minor Turbulences to a Global Hurricane (Springer, 2020). Tim Gwynn Jones is an economic and political-risk analyst at Medley Advisors, who also writes and podcasts at www.242.news on Substack. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/political-science

In early 2022, as Russian troops massed on Ukraine's border, Tom Mutch, a freelance war reporter, took a trip to Mariupol to take the temperature of this (then) culturally vibrant port on the Sea of Azov.  What stayed with him was the sound of the stray dogs and their "rhythmic and frantic barking, as if they were shouting a warning in unison". Within weeks, the city began a three-month siege and eventual fall but – to the surprise of many including Western powers – not just Kyiv but Mykolaiv, and Odesa held. Over the following months, resistance turned into reconquest and finally into a grinding artillery war of attrition reminiscent of the 1914-18 western front. In The Dogs of Mariupol: Russia's Invasion and the Forging of Ukraine's Iron Generation (Biteback, 2025), Tom Mutch tells the history of the war through members of the “iron generation” he met as a reporter and tells a darker tale of Ukrainian society since Bakhmut. *The author's book recommendations were Intent to Destroy: Russia's Two-Hundred-Year Quest to Dominate Ukraine by Eugene Finkel (Basic Books, 2024) and Empire of Pain: The Secret History of the Sackler Dynasty by Patrick Radden Keefe (Picador, 2021). Tim Gwynn Jones is an economic and political-risk analyst at Medley Advisors, who also writes 242.news on Substack. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network

In early 2022, as Russian troops massed on Ukraine's border, Tom Mutch, a freelance war reporter, took a trip to Mariupol to take the temperature of this (then) culturally vibrant port on the Sea of Azov.  What stayed with him was the sound of the stray dogs and their "rhythmic and frantic barking, as if they were shouting a warning in unison". Within weeks, the city began a three-month siege and eventual fall but – to the surprise of many including Western powers – not just Kyiv but Mykolaiv, and Odesa held. Over the following months, resistance turned into reconquest and finally into a grinding artillery war of attrition reminiscent of the 1914-18 western front. In The Dogs of Mariupol: Russia's Invasion and the Forging of Ukraine's Iron Generation (Biteback, 2025), Tom Mutch tells the history of the war through members of the “iron generation” he met as a reporter and tells a darker tale of Ukrainian society since Bakhmut. *The author's book recommendations were Intent to Destroy: Russia's Two-Hundred-Year Quest to Dominate Ukraine by Eugene Finkel (Basic Books, 2024) and Empire of Pain: The Secret History of the Sackler Dynasty by Patrick Radden Keefe (Picador, 2021). Tim Gwynn Jones is an economic and political-risk analyst at Medley Advisors, who also writes 242.news on Substack. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/eastern-european-studies

In early 2022, as Russian troops massed on Ukraine's border, Tom Mutch, a freelance war reporter, took a trip to Mariupol to take the temperature of this (then) culturally vibrant port on the Sea of Azov.  What stayed with him was the sound of the stray dogs and their "rhythmic and frantic barking, as if they were shouting a warning in unison". Within weeks, the city began a three-month siege and eventual fall but – to the surprise of many including Western powers – not just Kyiv but Mykolaiv, and Odesa held. Over the following months, resistance turned into reconquest and finally into a grinding artillery war of attrition reminiscent of the 1914-18 western front. In The Dogs of Mariupol: Russia's Invasion and the Forging of Ukraine's Iron Generation (Biteback, 2025), Tom Mutch tells the history of the war through members of the “iron generation” he met as a reporter and tells a darker tale of Ukrainian society since Bakhmut. *The author's book recommendations were Intent to Destroy: Russia's Two-Hundred-Year Quest to Dominate Ukraine by Eugene Finkel (Basic Books, 2024) and Empire of Pain: The Secret History of the Sackler Dynasty by Patrick Radden Keefe (Picador, 2021). Tim Gwynn Jones is an economic and political-risk analyst at Medley Advisors, who also writes 242.news on Substack. Learn more about your ad choices. Visit megaphone.fm/adchoices

In early 2022, as Russian troops massed on Ukraine's border, Tom Mutch, a freelance war reporter, took a trip to Mariupol to take the temperature of this (then) culturally vibrant port on the Sea of Azov.  What stayed with him was the sound of the stray dogs and their "rhythmic and frantic barking, as if they were shouting a warning in unison". Within weeks, the city began a three-month siege and eventual fall but – to the surprise of many including Western powers – not just Kyiv but Mykolaiv, and Odesa held. Over the following months, resistance turned into reconquest and finally into a grinding artillery war of attrition reminiscent of the 1914-18 western front. In The Dogs of Mariupol: Russia's Invasion and the Forging of Ukraine's Iron Generation (Biteback, 2025), Tom Mutch tells the history of the war through members of the “iron generation” he met as a reporter and tells a darker tale of Ukrainian society since Bakhmut. *The author's book recommendations were Intent to Destroy: Russia's Two-Hundred-Year Quest to Dominate Ukraine by Eugene Finkel (Basic Books, 2024) and Empire of Pain: The Secret History of the Sackler Dynasty by Patrick Radden Keefe (Picador, 2021). Tim Gwynn Jones is an economic and political-risk analyst at Medley Advisors, who also writes 242.news on Substack. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/journalism

In early 2022, as Russian troops massed on Ukraine's border, Tom Mutch, a freelance war reporter, took a trip to Mariupol to take the temperature of this (then) culturally vibrant port on the Sea of Azov.  What stayed with him was the sound of the stray dogs and their "rhythmic and frantic barking, as if they were shouting a warning in unison". Within weeks, the city began a three-month siege and eventual fall but – to the surprise of many including Western powers – not just Kyiv but Mykolaiv, and Odesa held. Over the following months, resistance turned into reconquest and finally into a grinding artillery war of attrition reminiscent of the 1914-18 western front. In The Dogs of Mariupol: Russia's Invasion and the Forging of Ukraine's Iron Generation (Biteback, 2025), Tom Mutch tells the history of the war through members of the “iron generation” he met as a reporter and tells a darker tale of Ukrainian society since Bakhmut. *The author's book recommendations were Intent to Destroy: Russia's Two-Hundred-Year Quest to Dominate Ukraine by Eugene Finkel (Basic Books, 2024) and Empire of Pain: The Secret History of the Sackler Dynasty by Patrick Radden Keefe (Picador, 2021). Tim Gwynn Jones is an economic and political-risk analyst at Medley Advisors, who also writes 242.news on Substack. Learn more about your ad choices. Visit megaphone.fm/adchoices

Donald Trump is putting liberal democracy through its greatest test in 80 years.  None of it is original. His style of rule is straight from the democratic backsliders' playbook. To secure long-term power rather than short-term office, rulers must take over the institutions that check and balance majority rule and bend them to their will. Trump has tamed Congress and inserted his people into the Supreme Court, law enforcement, intelligence, and competition regulation but - to his great frustration - the Federal Reserve is holding out. It was the same story in Hungary after Viktor Orbán returned to the premiership in 2010. Bound by EU law and the mandates of the governor and his deputies, Orbán had to wait three years to break the national bank. One of those deputy governors, Júlia Király, experienced state capture from the inside and resigned with a public protest at the loss of institutional independence. Now an associate professor of finance and monetary economics at the International Business School in Budapest, she began her career under socialism at the statistics and planning offices. As deputy governor, she was part of the team that managed the Hungarian economy through the post-2007 financial crisis – an experience she chronicles in Hungary and Other Emerging EU Countries in the Financial Storm: From Minor Turbulences to a Global Hurricane (Springer, 2020). Tim Gwynn Jones is an economic and political-risk analyst at Medley Advisors, who also writes and podcasts at www.242.news on Substack. Learn more about your ad choices. Visit megaphone.fm/adchoices

Donald Trump is putting liberal democracy through its greatest test in 80 years.  None of it is original. His style of rule is straight from the democratic backsliders' playbook. To secure long-term power rather than short-term office, rulers must take over the institutions that check and balance majority rule and bend them to their will. Trump has tamed Congress and inserted his people into the Supreme Court, law enforcement, intelligence, and competition regulation but - to his great frustration - the Federal Reserve is holding out. It was the same story in Hungary after Viktor Orbán returned to the premiership in 2010. Bound by EU law and the mandates of the governor and his deputies, Orbán had to wait three years to break the national bank. One of those deputy governors, Júlia Király, experienced state capture from the inside and resigned with a public protest at the loss of institutional independence. Now an associate professor of finance and monetary economics at the International Business School in Budapest, she began her career under socialism at the statistics and planning offices. As deputy governor, she was part of the team that managed the Hungarian economy through the post-2007 financial crisis – an experience she chronicles in Hungary and Other Emerging EU Countries in the Financial Storm: From Minor Turbulences to a Global Hurricane (Springer, 2020). Tim Gwynn Jones is an economic and political-risk analyst at Medley Advisors, who also writes and podcasts at www.242.news on Substack. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network

Donald Trump is putting liberal democracy through its greatest test in 80 years.  None of it is original. His style of rule is straight from the democratic backsliders' playbook. To secure long-term power rather than short-term office, rulers must take over the institutions that check and balance majority rule and bend them to their will. Trump has tamed Congress and inserted his people into the Supreme Court, law enforcement, intelligence, and competition regulation but - to his great frustration - the Federal Reserve is holding out. It was the same story in Hungary after Viktor Orbán returned to the premiership in 2010. Bound by EU law and the mandates of the governor and his deputies, Orbán had to wait three years to break the national bank. One of those deputy governors, Júlia Király, experienced state capture from the inside and resigned with a public protest at the loss of institutional independence. Now an associate professor of finance and monetary economics at the International Business School in Budapest, she began her career under socialism at the statistics and planning offices. As deputy governor, she was part of the team that managed the Hungarian economy through the post-2007 financial crisis – an experience she chronicles in Hungary and Other Emerging EU Countries in the Financial Storm: From Minor Turbulences to a Global Hurricane (Springer, 2020). Tim Gwynn Jones is an economic and political-risk analyst at Medley Advisors, who also writes and podcasts at www.242.news on Substack. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/eastern-european-studies

Donald Trump is putting liberal democracy through its greatest test in 80 years.  None of it is original. His style of rule is straight from the democratic backsliders' playbook. To secure long-term power rather than short-term office, rulers must take over the institutions that check and balance majority rule and bend them to their will. Trump has tamed Congress and inserted his people into the Supreme Court, law enforcement, intelligence, and competition regulation but - to his great frustration - the Federal Reserve is holding out. It was the same story in Hungary after Viktor Orbán returned to the premiership in 2010. Bound by EU law and the mandates of the governor and his deputies, Orbán had to wait three years to break the national bank. One of those deputy governors, Júlia Király, experienced state capture from the inside and resigned with a public protest at the loss of institutional independence. Now an associate professor of finance and monetary economics at the International Business School in Budapest, she began her career under socialism at the statistics and planning offices. As deputy governor, she was part of the team that managed the Hungarian economy through the post-2007 financial crisis – an experience she chronicles in Hungary and Other Emerging EU Countries in the Financial Storm: From Minor Turbulences to a Global Hurricane (Springer, 2020). Tim Gwynn Jones is an economic and political-risk analyst at Medley Advisors, who also writes and podcasts at www.242.news on Substack. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Donald Trump is putting liberal democracy through its greatest test in 80 years.  None of it is original. His style of rule is straight from the democratic backsliders' playbook. To secure long-term power rather than short-term office, rulers must take over the institutions that check and balance majority rule and bend them to their will. Trump has tamed Congress and inserted his people into the Supreme Court, law enforcement, intelligence, and competition regulation but - to his great frustration - the Federal Reserve is holding out. It was the same story in Hungary after Viktor Orbán returned to the premiership in 2010. Bound by EU law and the mandates of the governor and his deputies, Orbán had to wait three years to break the national bank. One of those deputy governors, Júlia Király, experienced state capture from the inside and resigned with a public protest at the loss of institutional independence. Now an associate professor of finance and monetary economics at the International Business School in Budapest, she began her career under socialism at the statistics and planning offices. As deputy governor, she was part of the team that managed the Hungarian economy through the post-2007 financial crisis – an experience she chronicles in Hungary and Other Emerging EU Countries in the Financial Storm: From Minor Turbulences to a Global Hurricane (Springer, 2020). Tim Gwynn Jones is an economic and political-risk analyst at Medley Advisors, who also writes and podcasts at www.242.news on Substack. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/finance

Donald Trump is putting liberal democracy through its greatest test in 80 years.  None of it is original. His style of rule is straight from the democratic backsliders' playbook. To secure long-term power rather than short-term office, rulers must take over the institutions that check and balance majority rule and bend them to their will. Trump has tamed Congress and inserted his people into the Supreme Court, law enforcement, intelligence, and competition regulation but - to his great frustration - the Federal Reserve is holding out. It was the same story in Hungary after Viktor Orbán returned to the premiership in 2010. Bound by EU law and the mandates of the governor and his deputies, Orbán had to wait three years to break the national bank. One of those deputy governors, Júlia Király, experienced state capture from the inside and resigned with a public protest at the loss of institutional independence. Now an associate professor of finance and monetary economics at the International Business School in Budapest, she began her career under socialism at the statistics and planning offices. As deputy governor, she was part of the team that managed the Hungarian economy through the post-2007 financial crisis – an experience she chronicles in Hungary and Other Emerging EU Countries in the Financial Storm: From Minor Turbulences to a Global Hurricane (Springer, 2020). Tim Gwynn Jones is an economic and political-risk analyst at Medley Advisors, who also writes and podcasts at www.242.news on Substack. Learn more about your ad choices. Visit megaphone.fm/adchoices

Even before its rebirth as a nation in the 1990s, Serbia had acquired a reputation abroad as Russia's stalwart Slavic ally in the Western Balkans. Yet, as Vuk Vuksanović argues in Serbia's Balancing Act: Between Russia and the West (Bloomsbury, 2025), two centuries of history and the 25 years since the fall of Slobodan Milošević tell a more nuanced story. "When it comes to Russia's interests,” he writes, “there are no sacred cows in Serbia-Russia relations". Governments in Belgrade will be courted and then discarded depending on Moscow's needs, and they know it. For their part, the Serbs depend on Russian political support in their campaign for a face-saving settlement of the long-running Kosovo dispute but know their economic success hinges on their ties to the EU and the US. Belgrade must "manipulate the superpower rivalry to secure economic resources from both superpowers and its political strategic autonomy". Vuk Vuksanović is a foreign policy expert at the Belgrade Centre for Security Policy, an associate of the Central and South-East Europe Programme at LSE IDEAS, and a prominent media commentator on strategy in the Balkans. *His book recommendations were Rival Power: Russia in Southeast Europe by Dimitar Bechev (Yale University Press, 2017) and Why War? by Christopher Coker (Hurst, 2021). Tim Gwynn Jones is an economic and political risk analyst at Medley Advisors, who also writes and podcasts on Substack at 242.news. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/political-science

Even before its rebirth as a nation in the 1990s, Serbia had acquired a reputation abroad as Russia's stalwart Slavic ally in the Western Balkans. Yet, as Vuk Vuksanović argues in Serbia's Balancing Act: Between Russia and the West (Bloomsbury, 2025), two centuries of history and the 25 years since the fall of Slobodan Milošević tell a more nuanced story. "When it comes to Russia's interests,” he writes, “there are no sacred cows in Serbia-Russia relations". Governments in Belgrade will be courted and then discarded depending on Moscow's needs, and they know it. For their part, the Serbs depend on Russian political support in their campaign for a face-saving settlement of the long-running Kosovo dispute but know their economic success hinges on their ties to the EU and the US. Belgrade must "manipulate the superpower rivalry to secure economic resources from both superpowers and its political strategic autonomy". Vuk Vuksanović is a foreign policy expert at the Belgrade Centre for Security Policy, an associate of the Central and South-East Europe Programme at LSE IDEAS, and a prominent media commentator on strategy in the Balkans. *His book recommendations were Rival Power: Russia in Southeast Europe by Dimitar Bechev (Yale University Press, 2017) and Why War? by Christopher Coker (Hurst, 2021). Tim Gwynn Jones is an economic and political risk analyst at Medley Advisors, who also writes and podcasts on Substack at 242.news. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network

Even before its rebirth as a nation in the 1990s, Serbia had acquired a reputation abroad as Russia's stalwart Slavic ally in the Western Balkans. Yet, as Vuk Vuksanović argues in Serbia's Balancing Act: Between Russia and the West (Bloomsbury, 2025), two centuries of history and the 25 years since the fall of Slobodan Milošević tell a more nuanced story. "When it comes to Russia's interests,” he writes, “there are no sacred cows in Serbia-Russia relations". Governments in Belgrade will be courted and then discarded depending on Moscow's needs, and they know it. For their part, the Serbs depend on Russian political support in their campaign for a face-saving settlement of the long-running Kosovo dispute but know their economic success hinges on their ties to the EU and the US. Belgrade must "manipulate the superpower rivalry to secure economic resources from both superpowers and its political strategic autonomy". Vuk Vuksanović is a foreign policy expert at the Belgrade Centre for Security Policy, an associate of the Central and South-East Europe Programme at LSE IDEAS, and a prominent media commentator on strategy in the Balkans. *His book recommendations were Rival Power: Russia in Southeast Europe by Dimitar Bechev (Yale University Press, 2017) and Why War? by Christopher Coker (Hurst, 2021). Tim Gwynn Jones is an economic and political risk analyst at Medley Advisors, who also writes and podcasts on Substack at 242.news. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/world-affairs

Even before its rebirth as a nation in the 1990s, Serbia had acquired a reputation abroad as Russia's stalwart Slavic ally in the Western Balkans. Yet, as Vuk Vuksanović argues in Serbia's Balancing Act: Between Russia and the West (Bloomsbury, 2025), two centuries of history and the 25 years since the fall of Slobodan Milošević tell a more nuanced story. "When it comes to Russia's interests,” he writes, “there are no sacred cows in Serbia-Russia relations". Governments in Belgrade will be courted and then discarded depending on Moscow's needs, and they know it. For their part, the Serbs depend on Russian political support in their campaign for a face-saving settlement of the long-running Kosovo dispute but know their economic success hinges on their ties to the EU and the US. Belgrade must "manipulate the superpower rivalry to secure economic resources from both superpowers and its political strategic autonomy". Vuk Vuksanović is a foreign policy expert at the Belgrade Centre for Security Policy, an associate of the Central and South-East Europe Programme at LSE IDEAS, and a prominent media commentator on strategy in the Balkans. *His book recommendations were Rival Power: Russia in Southeast Europe by Dimitar Bechev (Yale University Press, 2017) and Why War? by Christopher Coker (Hurst, 2021). Tim Gwynn Jones is an economic and political risk analyst at Medley Advisors, who also writes and podcasts on Substack at 242.news. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/russian-studies

Even before its rebirth as a nation in the 1990s, Serbia had acquired a reputation abroad as Russia's stalwart Slavic ally in the Western Balkans. Yet, as Vuk Vuksanović argues in Serbia's Balancing Act: Between Russia and the West (Bloomsbury, 2025), two centuries of history and the 25 years since the fall of Slobodan Milošević tell a more nuanced story. "When it comes to Russia's interests,” he writes, “there are no sacred cows in Serbia-Russia relations". Governments in Belgrade will be courted and then discarded depending on Moscow's needs, and they know it. For their part, the Serbs depend on Russian political support in their campaign for a face-saving settlement of the long-running Kosovo dispute but know their economic success hinges on their ties to the EU and the US. Belgrade must "manipulate the superpower rivalry to secure economic resources from both superpowers and its political strategic autonomy". Vuk Vuksanović is a foreign policy expert at the Belgrade Centre for Security Policy, an associate of the Central and South-East Europe Programme at LSE IDEAS, and a prominent media commentator on strategy in the Balkans. *His book recommendations were Rival Power: Russia in Southeast Europe by Dimitar Bechev (Yale University Press, 2017) and Why War? by Christopher Coker (Hurst, 2021). Tim Gwynn Jones is an economic and political risk analyst at Medley Advisors, who also writes and podcasts on Substack at 242.news. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/eastern-european-studies

Even before its rebirth as a nation in the 1990s, Serbia had acquired a reputation abroad as Russia's stalwart Slavic ally in the Western Balkans. Yet, as Vuk Vuksanović argues in Serbia's Balancing Act: Between Russia and the West (Bloomsbury, 2025), two centuries of history and the 25 years since the fall of Slobodan Milošević tell a more nuanced story. "When it comes to Russia's interests,” he writes, “there are no sacred cows in Serbia-Russia relations". Governments in Belgrade will be courted and then discarded depending on Moscow's needs, and they know it. For their part, the Serbs depend on Russian political support in their campaign for a face-saving settlement of the long-running Kosovo dispute but know their economic success hinges on their ties to the EU and the US. Belgrade must "manipulate the superpower rivalry to secure economic resources from both superpowers and its political strategic autonomy". Vuk Vuksanović is a foreign policy expert at the Belgrade Centre for Security Policy, an associate of the Central and South-East Europe Programme at LSE IDEAS, and a prominent media commentator on strategy in the Balkans. *His book recommendations were Rival Power: Russia in Southeast Europe by Dimitar Bechev (Yale University Press, 2017) and Why War? by Christopher Coker (Hurst, 2021). Tim Gwynn Jones is an economic and political risk analyst at Medley Advisors, who also writes and podcasts on Substack at 242.news. Learn more about your ad choices. Visit megaphone.fm/adchoices

Even before its rebirth as a nation in the 1990s, Serbia had acquired a reputation abroad as Russia's stalwart Slavic ally in the Western Balkans. Yet, as Vuk Vuksanović argues in Serbia's Balancing Act: Between Russia and the West (Bloomsbury, 2025), two centuries of history and the 25 years since the fall of Slobodan Milošević tell a more nuanced story. "When it comes to Russia's interests,” he writes, “there are no sacred cows in Serbia-Russia relations". Governments in Belgrade will be courted and then discarded depending on Moscow's needs, and they know it. For their part, the Serbs depend on Russian political support in their campaign for a face-saving settlement of the long-running Kosovo dispute but know their economic success hinges on their ties to the EU and the US. Belgrade must "manipulate the superpower rivalry to secure economic resources from both superpowers and its political strategic autonomy". Vuk Vuksanović is a foreign policy expert at the Belgrade Centre for Security Policy, an associate of the Central and South-East Europe Programme at LSE IDEAS, and a prominent media commentator on strategy in the Balkans. *His book recommendations were Rival Power: Russia in Southeast Europe by Dimitar Bechev (Yale University Press, 2017) and Why War? by Christopher Coker (Hurst, 2021). Tim Gwynn Jones is an economic and political risk analyst at Medley Advisors, who also writes and podcasts on Substack at 242.news. Learn more about your ad choices. Visit megaphone.fm/adchoices

03 Feb 2025. Economist Jeanne Walters of Emirates NBD put that in context for us and what could it mean for the region. Plus, we cross to New York to speak to economist Nick Stadtimiller about those tariffs and what happens next. And, where should you invest your money, in a hectic week of tariffs, earnings and jobs data? We asked Fund manager Manoj Mahadev. And, with new hotels in the UAE, what’s fueling the region’s growing demand for luxury hospitality? We find out with Saurabh Tiwari. See omnystudio.com/listener for privacy information.

Today's European Union grew out of functional communities set up in the wake of world war in the 1950s.  It would shock the new White House intake to learn that the wartime American political class lobbied hard for a postwar United States of Europe. The role of US officials in building Europe's first community – one for the coal and steel industries – and their close ties to "founding father" Jean Monnet have long been known. But, in Building Europe in New York: From the Munich Conference to the European Coal and Steel Community (Routledge, 2025), Enrico Ciappi takes things back a step - to the intellectual groundwork done by a network of American, French, and British politicians, diplomats, economists, and strategic thinkers. "The Schuman Plan arrived at the end of a long intellectual journey," he writes, with the two critical players in that journey being Monnet himself and the renowned New York-based think tank: the Council on Foreign Relations. Enrico Ciappi is a postdoctoral research fellow in history at the LUISS Guido Carli University of Rome. This is his first book. *His book recommendations were The Emergence of Globalism: Visions of World Order in Britain and the United States, 1939–1950 by Or Rosenboim (Princeton University Press, 2017) and The Great Game: On Secret Service in High Asia by Peter Hopkirk (John Murray, 1990 — reprint in 2006). Tim Gwynn Jones is an economic and political risk analyst at Medley Advisors, who also writes and podcasts on Substack at 242.news. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network

Today's European Union grew out of functional communities set up in the wake of world war in the 1950s.  It would shock the new White House intake to learn that the wartime American political class lobbied hard for a postwar United States of Europe. The role of US officials in building Europe's first community – one for the coal and steel industries – and their close ties to "founding father" Jean Monnet have long been known. But, in Building Europe in New York: From the Munich Conference to the European Coal and Steel Community (Routledge, 2025), Enrico Ciappi takes things back a step - to the intellectual groundwork done by a network of American, French, and British politicians, diplomats, economists, and strategic thinkers. "The Schuman Plan arrived at the end of a long intellectual journey," he writes, with the two critical players in that journey being Monnet himself and the renowned New York-based think tank: the Council on Foreign Relations. Enrico Ciappi is a postdoctoral research fellow in history at the LUISS Guido Carli University of Rome. This is his first book. *His book recommendations were The Emergence of Globalism: Visions of World Order in Britain and the United States, 1939–1950 by Or Rosenboim (Princeton University Press, 2017) and The Great Game: On Secret Service in High Asia by Peter Hopkirk (John Murray, 1990 — reprint in 2006). Tim Gwynn Jones is an economic and political risk analyst at Medley Advisors, who also writes and podcasts on Substack at 242.news. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/history

Today's European Union grew out of functional communities set up in the wake of world war in the 1950s.  It would shock the new White House intake to learn that the wartime American political class lobbied hard for a postwar United States of Europe. The role of US officials in building Europe's first community – one for the coal and steel industries – and their close ties to "founding father" Jean Monnet have long been known. But, in Building Europe in New York: From the Munich Conference to the European Coal and Steel Community (Routledge, 2025), Enrico Ciappi takes things back a step - to the intellectual groundwork done by a network of American, French, and British politicians, diplomats, economists, and strategic thinkers. "The Schuman Plan arrived at the end of a long intellectual journey," he writes, with the two critical players in that journey being Monnet himself and the renowned New York-based think tank: the Council on Foreign Relations. Enrico Ciappi is a postdoctoral research fellow in history at the LUISS Guido Carli University of Rome. This is his first book. *His book recommendations were The Emergence of Globalism: Visions of World Order in Britain and the United States, 1939–1950 by Or Rosenboim (Princeton University Press, 2017) and The Great Game: On Secret Service in High Asia by Peter Hopkirk (John Murray, 1990 — reprint in 2006). Tim Gwynn Jones is an economic and political risk analyst at Medley Advisors, who also writes and podcasts on Substack at 242.news. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/world-affairs

Today's European Union grew out of functional communities set up in the wake of world war in the 1950s.  It would shock the new White House intake to learn that the wartime American political class lobbied hard for a postwar United States of Europe. The role of US officials in building Europe's first community – one for the coal and steel industries – and their close ties to "founding father" Jean Monnet have long been known. But, in Building Europe in New York: From the Munich Conference to the European Coal and Steel Community (Routledge, 2025), Enrico Ciappi takes things back a step - to the intellectual groundwork done by a network of American, French, and British politicians, diplomats, economists, and strategic thinkers. "The Schuman Plan arrived at the end of a long intellectual journey," he writes, with the two critical players in that journey being Monnet himself and the renowned New York-based think tank: the Council on Foreign Relations. Enrico Ciappi is a postdoctoral research fellow in history at the LUISS Guido Carli University of Rome. This is his first book. *His book recommendations were The Emergence of Globalism: Visions of World Order in Britain and the United States, 1939–1950 by Or Rosenboim (Princeton University Press, 2017) and The Great Game: On Secret Service in High Asia by Peter Hopkirk (John Murray, 1990 — reprint in 2006). Tim Gwynn Jones is an economic and political risk analyst at Medley Advisors, who also writes and podcasts on Substack at 242.news. Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's European Union grew out of functional communities set up in the wake of world war in the 1950s.  It would shock the new White House intake to learn that the wartime American political class lobbied hard for a postwar United States of Europe. The role of US officials in building Europe's first community – one for the coal and steel industries – and their close ties to "founding father" Jean Monnet have long been known. But, in Building Europe in New York: From the Munich Conference to the European Coal and Steel Community (Routledge, 2025), Enrico Ciappi takes things back a step - to the intellectual groundwork done by a network of American, French, and British politicians, diplomats, economists, and strategic thinkers. "The Schuman Plan arrived at the end of a long intellectual journey," he writes, with the two critical players in that journey being Monnet himself and the renowned New York-based think tank: the Council on Foreign Relations. Enrico Ciappi is a postdoctoral research fellow in history at the LUISS Guido Carli University of Rome. This is his first book. *His book recommendations were The Emergence of Globalism: Visions of World Order in Britain and the United States, 1939–1950 by Or Rosenboim (Princeton University Press, 2017) and The Great Game: On Secret Service in High Asia by Peter Hopkirk (John Murray, 1990 — reprint in 2006). Tim Gwynn Jones is an economic and political risk analyst at Medley Advisors, who also writes and podcasts on Substack at 242.news. Learn more about your ad choices. Visit megaphone.fm/adchoices

Forty years ago, Schengen - a wine-making village at the tripoint border of Luxembourg, France, and Germany - made European history when diplomats from these countries, Belgium, and the Netherlands struck a deal to scale back their mutual border checks. "The event at Schengen went unnoticed by much of the European press," writes Isaac Stanley-Becker in Europe Without Borders: A History (Princeton University Press, 2025). Yet, as one of its signatories said much later, the Schengen agreement "changed everything" - accelerating the development of the European single market and currency area. Today, however, Schengen is under threat as its now-29 members struggle to balance the free movement of people against the demands of cross-border policing, immigration control, and political consent. In September 2024, the German government - rattled by surging support for the nativist AFD in the run-up to a federal election - reinstated border controls with its four Schengen founders, prompting threats of retaliation. Could Schengen face, as Stanley-Becker warns, "death by a thousand cuts"? Isaac Stanley-Becker is an investigative reporter at the Washington Post - part of the team that won a Pulitzer Prize in 2024 for a series exploring the role of the AR-15 semi-automatic rifle in American life. A graduate of Yale, he went on to complete a PhD in History at Oxford in 2019. Europe Without Borders is his first book. *The author's book recommendations were East West Street: On The Origins of Genocide and Crimes Against Humanity by Philippe Sands (Weidenfeld & Nicolson, 2016) and The Man Who Saw Everything by Deborah Levy (Hamish Hamilton, 2019). Tim Gwynn Jones is an economic and political risk analyst at Medley Advisors, who also writes and podcasts on Substack at 242.news. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network

Forty years ago, Schengen - a wine-making village at the tripoint border of Luxembourg, France, and Germany - made European history when diplomats from these countries, Belgium, and the Netherlands struck a deal to scale back their mutual border checks. "The event at Schengen went unnoticed by much of the European press," writes Isaac Stanley-Becker in Europe Without Borders: A History (Princeton University Press, 2025). Yet, as one of its signatories said much later, the Schengen agreement "changed everything" - accelerating the development of the European single market and currency area. Today, however, Schengen is under threat as its now-29 members struggle to balance the free movement of people against the demands of cross-border policing, immigration control, and political consent. In September 2024, the German government - rattled by surging support for the nativist AFD in the run-up to a federal election - reinstated border controls with its four Schengen founders, prompting threats of retaliation. Could Schengen face, as Stanley-Becker warns, "death by a thousand cuts"? Isaac Stanley-Becker is an investigative reporter at the Washington Post - part of the team that won a Pulitzer Prize in 2024 for a series exploring the role of the AR-15 semi-automatic rifle in American life. A graduate of Yale, he went on to complete a PhD in History at Oxford in 2019. Europe Without Borders is his first book. *The author's book recommendations were East West Street: On The Origins of Genocide and Crimes Against Humanity by Philippe Sands (Weidenfeld & Nicolson, 2016) and The Man Who Saw Everything by Deborah Levy (Hamish Hamilton, 2019). Tim Gwynn Jones is an economic and political risk analyst at Medley Advisors, who also writes and podcasts on Substack at 242.news. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/history

Forty years ago, Schengen - a wine-making village at the tripoint border of Luxembourg, France, and Germany - made European history when diplomats from these countries, Belgium, and the Netherlands struck a deal to scale back their mutual border checks. "The event at Schengen went unnoticed by much of the European press," writes Isaac Stanley-Becker in Europe Without Borders: A History (Princeton University Press, 2025). Yet, as one of its signatories said much later, the Schengen agreement "changed everything" - accelerating the development of the European single market and currency area. Today, however, Schengen is under threat as its now-29 members struggle to balance the free movement of people against the demands of cross-border policing, immigration control, and political consent. In September 2024, the German government - rattled by surging support for the nativist AFD in the run-up to a federal election - reinstated border controls with its four Schengen founders, prompting threats of retaliation. Could Schengen face, as Stanley-Becker warns, "death by a thousand cuts"? Isaac Stanley-Becker is an investigative reporter at the Washington Post - part of the team that won a Pulitzer Prize in 2024 for a series exploring the role of the AR-15 semi-automatic rifle in American life. A graduate of Yale, he went on to complete a PhD in History at Oxford in 2019. Europe Without Borders is his first book. *The author's book recommendations were East West Street: On The Origins of Genocide and Crimes Against Humanity by Philippe Sands (Weidenfeld & Nicolson, 2016) and The Man Who Saw Everything by Deborah Levy (Hamish Hamilton, 2019). Tim Gwynn Jones is an economic and political risk analyst at Medley Advisors, who also writes and podcasts on Substack at 242.news.

Forty years ago, Schengen - a wine-making village at the tripoint border of Luxembourg, France, and Germany - made European history when diplomats from these countries, Belgium, and the Netherlands struck a deal to scale back their mutual border checks. "The event at Schengen went unnoticed by much of the European press," writes Isaac Stanley-Becker in Europe Without Borders: A History (Princeton University Press, 2025). Yet, as one of its signatories said much later, the Schengen agreement "changed everything" - accelerating the development of the European single market and currency area. Today, however, Schengen is under threat as its now-29 members struggle to balance the free movement of people against the demands of cross-border policing, immigration control, and political consent. In September 2024, the German government - rattled by surging support for the nativist AFD in the run-up to a federal election - reinstated border controls with its four Schengen founders, prompting threats of retaliation. Could Schengen face, as Stanley-Becker warns, "death by a thousand cuts"? Isaac Stanley-Becker is an investigative reporter at the Washington Post - part of the team that won a Pulitzer Prize in 2024 for a series exploring the role of the AR-15 semi-automatic rifle in American life. A graduate of Yale, he went on to complete a PhD in History at Oxford in 2019. Europe Without Borders is his first book. *The author's book recommendations were East West Street: On The Origins of Genocide and Crimes Against Humanity by Philippe Sands (Weidenfeld & Nicolson, 2016) and The Man Who Saw Everything by Deborah Levy (Hamish Hamilton, 2019). Tim Gwynn Jones is an economic and political risk analyst at Medley Advisors, who also writes and podcasts on Substack at 242.news. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/european-studies

Forty years ago, Schengen - a wine-making village at the tripoint border of Luxembourg, France, and Germany - made European history when diplomats from these countries, Belgium, and the Netherlands struck a deal to scale back their mutual border checks. "The event at Schengen went unnoticed by much of the European press," writes Isaac Stanley-Becker in Europe Without Borders: A History (Princeton University Press, 2025). Yet, as one of its signatories said much later, the Schengen agreement "changed everything" - accelerating the development of the European single market and currency area. Today, however, Schengen is under threat as its now-29 members struggle to balance the free movement of people against the demands of cross-border policing, immigration control, and political consent. In September 2024, the German government - rattled by surging support for the nativist AFD in the run-up to a federal election - reinstated border controls with its four Schengen founders, prompting threats of retaliation. Could Schengen face, as Stanley-Becker warns, "death by a thousand cuts"? Isaac Stanley-Becker is an investigative reporter at the Washington Post - part of the team that won a Pulitzer Prize in 2024 for a series exploring the role of the AR-15 semi-automatic rifle in American life. A graduate of Yale, he went on to complete a PhD in History at Oxford in 2019. Europe Without Borders is his first book. *The author's book recommendations were East West Street: On The Origins of Genocide and Crimes Against Humanity by Philippe Sands (Weidenfeld & Nicolson, 2016) and The Man Who Saw Everything by Deborah Levy (Hamish Hamilton, 2019). Tim Gwynn Jones is an economic and political risk analyst at Medley Advisors, who also writes and podcasts on Substack at 242.news. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/geography

Forty years ago, Schengen - a wine-making village at the tripoint border of Luxembourg, France, and Germany - made European history when diplomats from these countries, Belgium, and the Netherlands struck a deal to scale back their mutual border checks. "The event at Schengen went unnoticed by much of the European press," writes Isaac Stanley-Becker in Europe Without Borders: A History (Princeton University Press, 2025). Yet, as one of its signatories said much later, the Schengen agreement "changed everything" - accelerating the development of the European single market and currency area. Today, however, Schengen is under threat as its now-29 members struggle to balance the free movement of people against the demands of cross-border policing, immigration control, and political consent. In September 2024, the German government - rattled by surging support for the nativist AFD in the run-up to a federal election - reinstated border controls with its four Schengen founders, prompting threats of retaliation. Could Schengen face, as Stanley-Becker warns, "death by a thousand cuts"? Isaac Stanley-Becker is an investigative reporter at the Washington Post - part of the team that won a Pulitzer Prize in 2024 for a series exploring the role of the AR-15 semi-automatic rifle in American life. A graduate of Yale, he went on to complete a PhD in History at Oxford in 2019. Europe Without Borders is his first book. *The author's book recommendations were East West Street: On The Origins of Genocide and Crimes Against Humanity by Philippe Sands (Weidenfeld & Nicolson, 2016) and The Man Who Saw Everything by Deborah Levy (Hamish Hamilton, 2019). Tim Gwynn Jones is an economic and political risk analyst at Medley Advisors, who also writes and podcasts on Substack at 242.news. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/eastern-european-studies

Forty years ago, Schengen - a wine-making village at the tripoint border of Luxembourg, France, and Germany - made European history when diplomats from these countries, Belgium, and the Netherlands struck a deal to scale back their mutual border checks. "The event at Schengen went unnoticed by much of the European press," writes Isaac Stanley-Becker in Europe Without Borders: A History (Princeton University Press, 2025). Yet, as one of its signatories said much later, the Schengen agreement "changed everything" - accelerating the development of the European single market and currency area. Today, however, Schengen is under threat as its now-29 members struggle to balance the free movement of people against the demands of cross-border policing, immigration control, and political consent. In September 2024, the German government - rattled by surging support for the nativist AFD in the run-up to a federal election - reinstated border controls with its four Schengen founders, prompting threats of retaliation. Could Schengen face, as Stanley-Becker warns, "death by a thousand cuts"? Isaac Stanley-Becker is an investigative reporter at the Washington Post - part of the team that won a Pulitzer Prize in 2024 for a series exploring the role of the AR-15 semi-automatic rifle in American life. A graduate of Yale, he went on to complete a PhD in History at Oxford in 2019. Europe Without Borders is his first book. *The author's book recommendations were East West Street: On The Origins of Genocide and Crimes Against Humanity by Philippe Sands (Weidenfeld & Nicolson, 2016) and The Man Who Saw Everything by Deborah Levy (Hamish Hamilton, 2019). Tim Gwynn Jones is an economic and political risk analyst at Medley Advisors, who also writes and podcasts on Substack at 242.news. Learn more about your ad choices. Visit megaphone.fm/adchoices

Forty years ago, Schengen - a wine-making village at the tripoint border of Luxembourg, France, and Germany - made European history when diplomats from these countries, Belgium, and the Netherlands struck a deal to scale back their mutual border checks. "The event at Schengen went unnoticed by much of the European press," writes Isaac Stanley-Becker in Europe Without Borders: A History (Princeton University Press, 2025). Yet, as one of its signatories said much later, the Schengen agreement "changed everything" - accelerating the development of the European single market and currency area. Today, however, Schengen is under threat as its now-29 members struggle to balance the free movement of people against the demands of cross-border policing, immigration control, and political consent. In September 2024, the German government - rattled by surging support for the nativist AFD in the run-up to a federal election - reinstated border controls with its four Schengen founders, prompting threats of retaliation. Could Schengen face, as Stanley-Becker warns, "death by a thousand cuts"? Isaac Stanley-Becker is an investigative reporter at the Washington Post - part of the team that won a Pulitzer Prize in 2024 for a series exploring the role of the AR-15 semi-automatic rifle in American life. A graduate of Yale, he went on to complete a PhD in History at Oxford in 2019. Europe Without Borders is his first book. *The author's book recommendations were East West Street: On The Origins of Genocide and Crimes Against Humanity by Philippe Sands (Weidenfeld & Nicolson, 2016) and The Man Who Saw Everything by Deborah Levy (Hamish Hamilton, 2019). Tim Gwynn Jones is an economic and political risk analyst at Medley Advisors, who also writes and podcasts on Substack at 242.news. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/book-of-the-day

From the collapse of the Soviet Union until late 2023, Armenia and Azerbaijan were fighting unrelenting hot and cold wars over Nagorno-Karabakh - a tiny 4,400-square-kilometre breakaway republic with a population under 150,000. That 30-year crisis ended within 24 hours in September 2023 when Azerbaijan attacked, Russian peacekeepers withdrew, and the last Karabakh Armenians left the enclave. While equivalent ethnic cleansings (deliberate or neglectful) have commanded Western diplomatic and media attention for decades, Nagorno-Karabakh has never captured attention outside the region. With Ashes of Our Fathers: Inside the Fall of Nagorno-Karabakh (Hurst, 2025), Gabriel Gavin is determined to redress that imbalance. Mixing history and reportage, Gavin explores this long-simmering ethnic conflict, how it has corrupted the politics and cultures of Armenia and Azerbaijan, and what it tells us about the decline of Russian external power and the failures of the West. *The author's book recommendations were High Caucasus: A Mountain Quest in Russia's Haunted Hinterland by Tom Parfitt (Headline, 2023) and Minor Detail by Adania Shibli (Fitzcarraldo Editions, 2020 — translated by Elisabeth Jaquette). Tim Gwynn Jones is an economic and political-risk analyst at Medley Advisors, who also writes and podcasts at twenty4two on Substack. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network

From the collapse of the Soviet Union until late 2023, Armenia and Azerbaijan were fighting unrelenting hot and cold wars over Nagorno-Karabakh - a tiny 4,400-square-kilometre breakaway republic with a population under 150,000. That 30-year crisis ended within 24 hours in September 2023 when Azerbaijan attacked, Russian peacekeepers withdrew, and the last Karabakh Armenians left the enclave. While equivalent ethnic cleansings (deliberate or neglectful) have commanded Western diplomatic and media attention for decades, Nagorno-Karabakh has never captured attention outside the region. With Ashes of Our Fathers: Inside the Fall of Nagorno-Karabakh (Hurst, 2025), Gabriel Gavin is determined to redress that imbalance. Mixing history and reportage, Gavin explores this long-simmering ethnic conflict, how it has corrupted the politics and cultures of Armenia and Azerbaijan, and what it tells us about the decline of Russian external power and the failures of the West. *The author's book recommendations were High Caucasus: A Mountain Quest in Russia's Haunted Hinterland by Tom Parfitt (Headline, 2023) and Minor Detail by Adania Shibli (Fitzcarraldo Editions, 2020 — translated by Elisabeth Jaquette). Tim Gwynn Jones is an economic and political-risk analyst at Medley Advisors, who also writes and podcasts at twenty4two on Substack. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/military-history

From the collapse of the Soviet Union until late 2023, Armenia and Azerbaijan were fighting unrelenting hot and cold wars over Nagorno-Karabakh - a tiny 4,400-square-kilometre breakaway republic with a population under 150,000. That 30-year crisis ended within 24 hours in September 2023 when Azerbaijan attacked, Russian peacekeepers withdrew, and the last Karabakh Armenians left the enclave. While equivalent ethnic cleansings (deliberate or neglectful) have commanded Western diplomatic and media attention for decades, Nagorno-Karabakh has never captured attention outside the region. With Ashes of Our Fathers: Inside the Fall of Nagorno-Karabakh (Hurst, 2025), Gabriel Gavin is determined to redress that imbalance. Mixing history and reportage, Gavin explores this long-simmering ethnic conflict, how it has corrupted the politics and cultures of Armenia and Azerbaijan, and what it tells us about the decline of Russian external power and the failures of the West. *The author's book recommendations were High Caucasus: A Mountain Quest in Russia's Haunted Hinterland by Tom Parfitt (Headline, 2023) and Minor Detail by Adania Shibli (Fitzcarraldo Editions, 2020 — translated by Elisabeth Jaquette). Tim Gwynn Jones is an economic and political-risk analyst at Medley Advisors, who also writes and podcasts at twenty4two on Substack. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/russian-studies

From the collapse of the Soviet Union until late 2023, Armenia and Azerbaijan were fighting unrelenting hot and cold wars over Nagorno-Karabakh - a tiny 4,400-square-kilometre breakaway republic with a population under 150,000. That 30-year crisis ended within 24 hours in September 2023 when Azerbaijan attacked, Russian peacekeepers withdrew, and the last Karabakh Armenians left the enclave. While equivalent ethnic cleansings (deliberate or neglectful) have commanded Western diplomatic and media attention for decades, Nagorno-Karabakh has never captured attention outside the region. With Ashes of Our Fathers: Inside the Fall of Nagorno-Karabakh (Hurst, 2025), Gabriel Gavin is determined to redress that imbalance. Mixing history and reportage, Gavin explores this long-simmering ethnic conflict, how it has corrupted the politics and cultures of Armenia and Azerbaijan, and what it tells us about the decline of Russian external power and the failures of the West. *The author's book recommendations were High Caucasus: A Mountain Quest in Russia's Haunted Hinterland by Tom Parfitt (Headline, 2023) and Minor Detail by Adania Shibli (Fitzcarraldo Editions, 2020 — translated by Elisabeth Jaquette). Tim Gwynn Jones is an economic and political-risk analyst at Medley Advisors, who also writes and podcasts at twenty4two on Substack. Learn more about your ad choices. Visit megaphone.fm/adchoices

From the collapse of the Soviet Union until late 2023, Armenia and Azerbaijan were fighting unrelenting hot and cold wars over Nagorno-Karabakh - a tiny 4,400-square-kilometre breakaway republic with a population under 150,000. That 30-year crisis ended within 24 hours in September 2023 when Azerbaijan attacked, Russian peacekeepers withdrew, and the last Karabakh Armenians left the enclave. While equivalent ethnic cleansings (deliberate or neglectful) have commanded Western diplomatic and media attention for decades, Nagorno-Karabakh has never captured attention outside the region. With Ashes of Our Fathers: Inside the Fall of Nagorno-Karabakh (Hurst, 2025), Gabriel Gavin is determined to redress that imbalance. Mixing history and reportage, Gavin explores this long-simmering ethnic conflict, how it has corrupted the politics and cultures of Armenia and Azerbaijan, and what it tells us about the decline of Russian external power and the failures of the West. *The author's book recommendations were High Caucasus: A Mountain Quest in Russia's Haunted Hinterland by Tom Parfitt (Headline, 2023) and Minor Detail by Adania Shibli (Fitzcarraldo Editions, 2020 — translated by Elisabeth Jaquette). Tim Gwynn Jones is an economic and political-risk analyst at Medley Advisors, who also writes and podcasts at twenty4two on Substack. Learn more about your ad choices. Visit megaphone.fm/adchoices

The European Union has a big problem—a potentially fatal one. How should it deal with a member state or states that reject democracy and the rule of law? So far, not even Viktor Orbán's Hungary has turned full-blown authoritarian. However, his 14 unbroken years of “illiberal democracy”, his constitution rewriting, creeping media control, challenges to judicial independence, and calls for popular resistance against the EU are becoming less easy to ignore or accommodate. Yet, the EU's tools to address democratic backsliding are blunt and its institutions are reluctant to use them. Above all, while a member state can leave the union, the union itself has no power to expel a club member that breaks its core democratic rules. In Protecting Democracy in Europe: Pluralism, Autocracy and the Future of the EU (Hurst, 2024), Tom Theuns looks back at the history of this design fault and how to put it right. He writes: "EU member states cannot both permit a frankly autocratic state to continue to be a member state of the Union and at the same tie pretend to be committed to democracy" Tom Theuns is a Senior Assistant Professor of Political Theory and European Politics at Leiden University's Institute of Political Science and an Associate Researcher at Sciences Po in Paris. Tim Gwynn Jones is an economic and political-risk analyst at Medley Advisors, who also writes and podcasts at twenty4two on Substack. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network

The European Union has a big problem—a potentially fatal one. How should it deal with a member state or states that reject democracy and the rule of law? So far, not even Viktor Orbán's Hungary has turned full-blown authoritarian. However, his 14 unbroken years of “illiberal democracy”, his constitution rewriting, creeping media control, challenges to judicial independence, and calls for popular resistance against the EU are becoming less easy to ignore or accommodate. Yet, the EU's tools to address democratic backsliding are blunt and its institutions are reluctant to use them. Above all, while a member state can leave the union, the union itself has no power to expel a club member that breaks its core democratic rules. In Protecting Democracy in Europe: Pluralism, Autocracy and the Future of the EU (Hurst, 2024), Tom Theuns looks back at the history of this design fault and how to put it right. He writes: "EU member states cannot both permit a frankly autocratic state to continue to be a member state of the Union and at the same tie pretend to be committed to democracy" Tom Theuns is a Senior Assistant Professor of Political Theory and European Politics at Leiden University's Institute of Political Science and an Associate Researcher at Sciences Po in Paris. Tim Gwynn Jones is an economic and political-risk analyst at Medley Advisors, who also writes and podcasts at twenty4two on Substack. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/political-science

The European Union has a big problem—a potentially fatal one. How should it deal with a member state or states that reject democracy and the rule of law? So far, not even Viktor Orbán's Hungary has turned full-blown authoritarian. However, his 14 unbroken years of “illiberal democracy”, his constitution rewriting, creeping media control, challenges to judicial independence, and calls for popular resistance against the EU are becoming less easy to ignore or accommodate. Yet, the EU's tools to address democratic backsliding are blunt and its institutions are reluctant to use them. Above all, while a member state can leave the union, the union itself has no power to expel a club member that breaks its core democratic rules. In Protecting Democracy in Europe: Pluralism, Autocracy and the Future of the EU (Hurst, 2024), Tom Theuns looks back at the history of this design fault and how to put it right. He writes: "EU member states cannot both permit a frankly autocratic state to continue to be a member state of the Union and at the same tie pretend to be committed to democracy" Tom Theuns is a Senior Assistant Professor of Political Theory and European Politics at Leiden University's Institute of Political Science and an Associate Researcher at Sciences Po in Paris. Tim Gwynn Jones is an economic and political-risk analyst at Medley Advisors, who also writes and podcasts at twenty4two on Substack. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/european-studies

The European Union has a big problem—a potentially fatal one. How should it deal with a member state or states that reject democracy and the rule of law? So far, not even Viktor Orbán's Hungary has turned full-blown authoritarian. However, his 14 unbroken years of “illiberal democracy”, his constitution rewriting, creeping media control, challenges to judicial independence, and calls for popular resistance against the EU are becoming less easy to ignore or accommodate. Yet, the EU's tools to address democratic backsliding are blunt and its institutions are reluctant to use them. Above all, while a member state can leave the union, the union itself has no power to expel a club member that breaks its core democratic rules. In Protecting Democracy in Europe: Pluralism, Autocracy and the Future of the EU (Hurst, 2024), Tom Theuns looks back at the history of this design fault and how to put it right. He writes: "EU member states cannot both permit a frankly autocratic state to continue to be a member state of the Union and at the same tie pretend to be committed to democracy" Tom Theuns is a Senior Assistant Professor of Political Theory and European Politics at Leiden University's Institute of Political Science and an Associate Researcher at Sciences Po in Paris. Tim Gwynn Jones is an economic and political-risk analyst at Medley Advisors, who also writes and podcasts at twenty4two on Substack. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/eastern-european-studies

The European Union has a big problem—a potentially fatal one. How should it deal with a member state or states that reject democracy and the rule of law? So far, not even Viktor Orbán's Hungary has turned full-blown authoritarian. However, his 14 unbroken years of “illiberal democracy”, his constitution rewriting, creeping media control, challenges to judicial independence, and calls for popular resistance against the EU are becoming less easy to ignore or accommodate. Yet, the EU's tools to address democratic backsliding are blunt and its institutions are reluctant to use them. Above all, while a member state can leave the union, the union itself has no power to expel a club member that breaks its core democratic rules. In Protecting Democracy in Europe: Pluralism, Autocracy and the Future of the EU (Hurst, 2024), Tom Theuns looks back at the history of this design fault and how to put it right. He writes: "EU member states cannot both permit a frankly autocratic state to continue to be a member state of the Union and at the same tie pretend to be committed to democracy" Tom Theuns is a Senior Assistant Professor of Political Theory and European Politics at Leiden University's Institute of Political Science and an Associate Researcher at Sciences Po in Paris. Tim Gwynn Jones is an economic and political-risk analyst at Medley Advisors, who also writes and podcasts at twenty4two on Substack. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/politics-and-polemics

"Everyone assumed that in a more open, interconnected world, democracy and liberal ideas would spread to the autocratic states. Nobody imagined that autocracy and illiberalism would spread to the democratic world instead". So writes Anne Applebaum in Autocracy, Inc: The Dictators Who Want to Run the World (Double Day Books, 2024). Applebaum's new book develops the themes she rehearsed in Twilight of Democracy (2020), an analysis of the rise of authoritarianism in Eastern Europe and national conservatism in the UK and the US. Ranging across the club of authoritarians but with an inevitable focus on China and Russia, Autocracy Inc. examines autocrats' growing sophistication and coordination and how they have been enabled by the naivety (and greed) of business and politicians in liberal democracies. "The vehicles of disruption can be right-wing, left-wing, separatist or nationalist - even taking the form of medical conspiracies or moral panic," she writes. "Only the purpose never changes: Autocracy Inc. hopes to rewrite the rules of the international system itself". Anne Applebaum is an American-Polish historian and staff writer for The Atlantic. Apart from Twilight of Democracy, she has written three histories - Gulag: A History (2003), Iron Curtain: The Crushing of Eastern Europe, 1944-1956 (2012), and Red Famine: Stalin's War on Ukraine (2017). *The author's book recommendations were The Ideological Origins of the American Revolution by Bernard Bailyn (Harvard University Press, 50th Anniversary edition 2017) and Anna Karenina by Leo Tolstoy (OUP, 2016 - translated by Rosamund Bartlett). Tim Gwynn Jones is an economic and political-risk analyst at Medley Advisors, who also writes and podcasts at twenty4two on Substack. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network

"Everyone assumed that in a more open, interconnected world, democracy and liberal ideas would spread to the autocratic states. Nobody imagined that autocracy and illiberalism would spread to the democratic world instead". So writes Anne Applebaum in Autocracy, Inc: The Dictators Who Want to Run the World (Double Day Books, 2024). Applebaum's new book develops the themes she rehearsed in Twilight of Democracy (2020), an analysis of the rise of authoritarianism in Eastern Europe and national conservatism in the UK and the US. Ranging across the club of authoritarians but with an inevitable focus on China and Russia, Autocracy Inc. examines autocrats' growing sophistication and coordination and how they have been enabled by the naivety (and greed) of business and politicians in liberal democracies. "The vehicles of disruption can be right-wing, left-wing, separatist or nationalist - even taking the form of medical conspiracies or moral panic," she writes. "Only the purpose never changes: Autocracy Inc. hopes to rewrite the rules of the international system itself". Anne Applebaum is an American-Polish historian and staff writer for The Atlantic. Apart from Twilight of Democracy, she has written three histories - Gulag: A History (2003), Iron Curtain: The Crushing of Eastern Europe, 1944-1956 (2012), and Red Famine: Stalin's War on Ukraine (2017). *The author's book recommendations were The Ideological Origins of the American Revolution by Bernard Bailyn (Harvard University Press, 50th Anniversary edition 2017) and Anna Karenina by Leo Tolstoy (OUP, 2016 - translated by Rosamund Bartlett). Tim Gwynn Jones is an economic and political-risk analyst at Medley Advisors, who also writes and podcasts at twenty4two on Substack. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/political-science

In 2012, to stave off the collapse of their currency union, Europe's leaders sought to end the so-called “doom loop” between the solvency of their governments and their banking systems. Two years later, a banking union was born.  Created as a crisis response, like the postwar coal and steel community, this ten-year-old union is another step in Europe's long integrationist road. Yet – as Nicolas Véron points out in Europe's Banking Union At Ten: Unfinished Yet Transformative (Bruegel, 2024) - the effort to "break the vicious circle between banks and sovereigns remains fragile and incomplete". Together with Jean Pisani-Ferry, Nicolas Véron is a co-founder of the Bruegel public-policy think tank in Brussels and a scholar at the Peterson Institute for International Economics (PIIE) in Washington. A specialist in financial systems and regulatory reform, he is an alumnus of the École Polytechnique and the École nationale supérieure des mines in Paris and - until 2000 - was a French civil servant. He has written and co-written many papers on banking supervision, crisis management, and Eurozone policy governance. *The author's book recommendations were Central Banking Before 1800: A Rehabilitation by Ulrich Bindseil (OUP, 2020) and 7500 Euros: Pastiches politico-littéraires by David Spector (Wombat, 2022). Tim Gwynn Jones is an economic and political-risk analyst at Medley Advisors, who also writes the twenty4two newsletter on Substack. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network