Publications

On October 19th, the UK's coalition government published its 'strategic defence and security review' (SDSR), laying out the future shape of Britain's armed forces. As was to be expected at a time of budget austerity, the SDSR foresees significant cuts in military capabilities.

The dollar has now fallen to $1.40 against the euro. This is still below the low of almost $1.60 that it reached in the middle in July 2008, but it represents a steep decline from under $1.20 in early June. Moreover, the US currency is likely to weaken further.

The most pain-free way for European governments to fight climate change is to use energy more efficiently. At a recent energy conference hosted by the European Commission, it struck me that the EU still has a poverty of ambition when it comes to energy efficiency.