International Relations Commons^™

European Banking Union D: Cross-Border Resolution—Dexia Group, Rosalind Z. Wiggins, Natalia Tente, Andrew Metrick

Journal of Financial Crises

In September 2008, Dexia Group, SA, the world’s largest provider of public finance, experienced a sudden liquidity crisis. In response, the governments of Belgium, France, and Luxembourg provided the company a capital infusion and credit support. In February 2010, the company adopted a European Union (EU)-approved restructuring plan that required it to scale back its businesses and cease proprietary trading. In June 2011, Dexia withdrew from the government-sponsored credit support program before its expiration date, and in July, the company announced that it had passed an EU stress test. However, just three months later, Dexia wrote down its substantial position …

European Banking Union C: Cross-Border Resolution–Fortis Group, Rosalind Z. Wiggins, Natalia Tente, Andrew Metrick

Journal of Financial Crises

In August 2007, Fortis Group, Belgium’s largest bank, acquired the Dutch operations of ABN AMRO, becoming the fifth largest bank in Europe. Despite its size and its significant operations in the Benelux countries, Fortis struggled to integrate ABN AMRO. Fortis’s situation worsened with the crash of the US subprime market, which impacted its subprime mortgage portfolio. By July 2008, Fortis’s CEO had stepped down, its stock had lost 70% of its value, and it was on the verge of collapse due to a severe liquidity crisis. The governments of Belgium, Luxembourg, and the Netherlands quickly came together and agreed to …

European Banking Union B: The Single Resolution Mechanism, Rosalind Z. Wiggins, Michael Wedow, Andrew Metrick

Journal of Financial Crises

The options available to European governments to respond to a multinational bank in financial trouble have been severely limited since each country has its own unique laws and authority applicable to banks operating within its borders. The Bank Recovery & Resolution Directive (BRRD), which was adopted in 2013 and scheduled to go into effect January 2015, harmonizes rules across EU countries for how to restructure and resolve failing banks. However, the directive would maintain the existing system of individual national resolution authorities and resolution funds. To better secure the Eurozone banks and to compliment the Single Supervisory Mechanism, which was …

European Banking Union A: The Single Supervisory Mechanism, Rosalind Z. Wiggins, Michael Wedow, Andrew Metrick

Journal of Financial Crises

At the peak of the Global Financial Crisis in fall 2008, each of the 27 member states in the European Union (EU) set many of its own banking rules and had its own bank regulators and supervisors. The crisis made the shortcomings of this decentralized approach obvious, and since its formation in January 2011, the European Banking Authority (EBA) has been developing a “Single Rulebook” that will harmonize banking rules across the EU countries. In June 2012, European leaders went even further, committing to a banking union that would better coordinate supervision of banks in the then 18-country Eurozone. A …

European Central Bank Tools And Policy Actions B: Asset Purchase Programs, Chase P. Ross, Rosalind Z. Wiggins, Andrew Metrick

Journal of Financial Crises

Beginning in August 2007, the European Central Bank (ECB) used standard and non-standard monetary policies as the global financial markets progressed from initial turmoil to a widespread sovereign debt crisis. This case describes the key features of the ECB’s asset purchase programs throughout the Global Financial Crisis and subsequent European sovereign debt crisis. These programs include the Covered Bond Purchase Programs (CBPP1, CBPP2, CBPP3), Securities Markets Program (SMP), Outright Monetary Transactions (OMT), Asset-backed Securities Purchase Program (ABSPP) and the Public Sector Purchase Program (PSPP).

In combating the crises, the ECB designed various innovative programs which it successively employed as the …

European Central Bank Tools And Policy Actions A: Open Market Operations, Collateral Expansion And Standing Facilities, Chase P. Ross, Rosalind Z. Wiggins, Andrew Metrick

Journal of Financial Crises

Beginning in August 2007, the European Central Bank (ECB) responded to market turmoil with a variety of standard and non-standard monetary policy tools. This case discusses the operational framework of the ECB’s open market operation tools and standing facilities before and during the financial crisis. Specifically, this case describes the ECB’s use of its main refinancing and longer-term refinancing operations, the expansion of collateral eligible for use in Eurosystem credit operations, and the ECB’s standing facilities, including its marginal lending and deposit facilities.

Ireland And Iceland In Crisis D: Similarities And Differences, Arwin G. Zeissler, Daisuke Ikeda, Andrew Metrick

Journal of Financial Crises

On September 29, 2008—two weeks after the collapse of Lehman Brothers—the government of Ireland took the bold step of guaranteeing almost all liabilities of the country’s major banks. The total amount guaranteed by the government was more than double Ireland’s gross domestic product, but none of the banks were immediately nationalized. The Icelandic banking system also collapsed in 2008, just one week after the Irish government issued its comprehensive guarantee. In contrast to the Irish response, the Icelandic government did not guarantee all bank debt. Instead, the Icelandic government controversially split each of the three major banks into a new …

Ireland And Iceland In Crisis A: Increasing Risk In Ireland, Arwin G. Zeissler, Karen Braun-Munzinger, Andrew Metrick

Journal of Financial Crises

Ireland went from being the poorest member of the European Economic Community in 1973 to enjoying the second highest per-capita income among European countries by 2007. Healthy growth in the 1990s eventually gave way to a concentrated boom in property-related lending in the 2000s. The growth in the aggregate loan balances of Ireland’s six major banks greatly exceeded the growth in gross domestic product (GDP); as a result, bank loan balances grew from 1.1 times GDP in 2000 to over 2.0 times GDP by 2007. Given the small size of the domestic retail depositor base, the Irish banks increasingly funded …

Book Review: The New Immigrant Whiteness: Race, Neoliberalism, And Post-Soviet Migration To The United States, By Claudia Sadowski-Smith, Tim Engles

Faculty Research & Creative Activity

No abstract provided.

Making The War Colleges Better, Richard A. Lacquement Jr

The US Army War College Quarterly: Parameters

No abstract provided.

Table Of Contents, Rory J. Conces

International Dialogue

Table of Contents for Volume 2

Institutionalized Violence In The History Of Mind/Body Dualism And The Contemporary Reality Of Slavery And Torture: Reflections On Elaine Scarry And The Body In Pain, Wendy Lynne Lee

International Dialogue

Wendy Lynne Lee argues that the dualistic impulse Bibi Bakare-Yusef identifies in Elaine Scarry’s analysis of the experience of pain has its roots at least as far back as Aristotle’s hylomorphism, and that a clear view of contemporary structural inequality requires a grasp of how “mind” and “body” continue to inform even anti-dualist social theory. Lee argues that insofar as this impulse informs Scarry’s The Body in Pain, it distorts Scarry’s analysis of the experience of pain in ways that elide important aspects of that experience. Understanding the nature of this distortion, however, sheds light on some forms of violence …

Using Bourdieu To Answer Spivak: On The Study Of Historical Subaltern Religious Practices, Curtis Hutt

International Dialogue

Gayatri Chakravorty Spivak, in her 1988 publication “Can the Subaltern Speak?,” famously challenges the ability of scholars—educated and operating within the dominating power structures of oftentimes European colonizing transnational political and religious movements—to ever grasp subaltern religion. This skepticism logically extends to the work of historians investigating the obscured religious traditions of past cultures that have been overlooked, overwhelmed, and suppressed. In this paper, I lay out a restrained strategy inspired in part by the French sociologist Pierre Bourdieu and based upon my own historical work for circumventing some forms of historical blindness that conceal subaltern pasts. In conclusion, a …

Rethinking Secularism: P. Harrison, É. Balibar, T. Asad: The Territories Of Science And Religion; Secularism And Cosmopolitanism: Critical Hypotheses On Religion And Politics; Secular Translations: Nation-State, Modern Self, And Calculative Reason, Sotiris Mitralexis

International Dialogue

I will discuss here three recent books that both directly and indirectly discuss religion and secularism, in different contexts and certainly from different perspectives; one by historian Peter Harrison, one by cultural anthropologist Talal Asad, and one by philosopher Étienne Balibar. All three authors have invested a sizable part of their scholarly career in studying religion/secularism, and the books reviewed are revised collections of relatively recent lectures and essays (rather than, for example, texts authored with the explicit purpose of comprising a monograph); this entails that each of these books is, so to speak, the distillate of a career in …

Genealogies Of Terrorism: Revolution, State Violence, Empire, Wendy L. Lee

International Dialogue

In Genealogies of Terrorism: Revolution, State Violence, Empire, Verena Erlenbusch-Anderson takes on the ambitious project of providing a broadly Foucauldian genealogical account of the concept and practice of “terrorism.” While I am not quite sure she summits every mountain she attempts to climb, Erlenbusch-Anderson makes a valuable contribution to an under-developed literature and she offers some tantalizing points of departure for future explorations of an important and timely subject. Genealogies is an eminently worthwhile read; while some grounding in Foucault (among others) is sure to enhance the experience, Erlenbusch-Anderson’s introduction provides an able road map, making the ascent up through …

Technology, Science, And “Post-Humanity”: Like A Thief In Broad Daylight: Power In The Era Of Post-Human Capitalism, Edward Sandowski, Betty J. Harris

International Dialogue

In this book, Like a Thief in Broad Daylight: Power in the Era of Post-Human Capitalism, Slavoj Žižek mulls over issues about technology and science in the contemporary world. This is a world which he thinks, plausibly, is dominated by global capitalism, a condition which he wishes to go beyond, to something better. The nature and distribution of power must be changed. Changes in the status of “humanity” and the notion of “post-humanity” concern him. One aspect of his difficult text is that he explores how post-humanity might symbolize, not solely our degraded condition. Rather, humanity and post-humanity (and fears …

The Elephant In The Room: Against Democracy, Peter Stone

International Dialogue

Unfortunately, any discussion of Jason Brennan’s Against Democracy (2017), which seeks to make a case for epistocracy and against democracy, raises the “Don’t think of an elephant” problem (Lakoff 2004). If you tell people not to think of an elephant, they immediately think of an elephant. If you tell people not to think about epistocracy, they will immediately think about epistocracy. And this is a pity, because epistocracy is a terrible idea, and nothing Brennan says proves otherwise.

Revolution And War In Contemporary Ukraine: The Challenge Of Change, Emma Mateo

International Dialogue

This November marks six years since Ukraine’s Euromaidan protests. Sometimes referred to as the “Revolution of Dignity,” the events of winter 2013–14 had far-reaching consequences not only for Ukraine’s government and Ukrainian national identity, but also for global geopolitics. After the corrupt Yanukovych government fell, Putin’s Russia annexed Crimea and became involved in separatist conflict in Ukraine’s eastern regions, under the premise of “protecting Russian speakers.” This edited volume investigates the events of 2013–14 and their impact on culture, politics, society and identities.

Triadic Coercion: Israel’S Targeting Of States That Host Nonstate Actors, Richard English

International Dialogue

This scholarly, serious-minded book represents a valuable addition to the Columbia University Press series, Columbia Studies in Terrorism and Irregular Warfare. Considering the decades-old Arab-Israeli conflict, Wendy Pearlman and Boaz Atzili address the issue of what they term “triadic coercion—in which a state directs military threats or strikes at another state to force it to take action against a nonstate actor to which it offers shelter or assistance” (242). This tactic has been common enough to be historically significant, and the Israeli case that is examined here offers a useful laboratory within which to offer systematic consideration of the phenomenon.

Notes From The Editor, Rory J. Conces

International Dialogue

Notes from International Dialogue's Editor-in-Chief, Rory J. Conces for Volume 9.

Political Realism In Apocalyptic Times, Gonzalo Bustamante Kuschel

International Dialogue

Alison McQueen’s book is a significant contribution to political theory and to the use of the history of political thought as a source of categories for thinking about current problems. Her central thesis revolves around three assumptions. First, the existence of “political realism” understood as a particular approach to evaluating politics—characterized by a defense of its own autonomy,1 political agonism,2 the rejection of both utopia and moralization in politics, and the preeminence of order and stability over any other criterion, including justice, in political decisions (10–12). This definition of “political realism” allows the author to group other writers who, though …

Art As A Political Witness, Lenore Metrick-Chen

International Dialogue

Kia Lindroos and Frank Möller, the editors of this volume, raise a serious question: Can art increase political awareness either through witnessing itself or by creating witnesses in its audience? Wisely, the book does not attempt to provide a single, definitive answer to these questions; instead, the editors explain that they selected authors who examine aesthetic forms of expression, with the intention of an inquiry into an expanded idea of who is a witness. Beginning with the definition of witness from the Shorter Oxford English Dictionary on Historical Principles as someone “who is or was present, and is able to …

Panel Discussion: Are Reparations Possible? Lessons To The United States From South Africa, Richard Goldstone, Lewis Gordon, Alecia Anderson

International Dialogue

Introduction: On September 25, 2019, the Honorable Richard Goldstone joined Dr. Lewis Gordon f or a conversation about reparations at the University of Nebraska at Omaha ( The public discussion was offered as part of a series of events for Human Rights Week. It was co sponsored by the Goldstein Community Chair for Human Rights, the Schwalb Cent er for Israel and Jewish Studies, and the UNO Department of Black Studies. Goldstone and Gordon were brought to the University of Nebraska at Omaha by the Leonard and Shirley Goldstein Center for Human Rights.

The Honorable Richard Goldstone, Dr. Lewis Gordon, …

The Omnibus Homo Sacer; What Is Philosophy?, Sotiris Mitralexis

International Dialogue

The Omnibus Homo Sacer brings together in 1336 pages all volumes of the twenty-year Homo Sacer project by Italian philosopher Giorgio Agamben, written between 1990 and 2015, starting with Homo Sacer: Sovereign Power and Bare Life and concluding with The Use of Bodies. In line with Agamben’s division of the project, the Omnibus edition is divided into four parts (Part 1: Homo Sacer; Part 2: State of Exception, Stasis, The Sacrament of Language, The Kingdom and the Glory & Opus Dei; Part 3: Remnants of Auschwitz; and Part 4: The Highest Poverty & The Use of Bodies). Since the volumes …

Restating Orientalism: A Critique Of Modern Knowledge, Katlin Marisol Sweeney

International Dialogue

Wael B. Hallaq’s Restating Orientalism: A Critique of Modern Knowledge interrogates what he proposes are canonized misconceptions of Orientalism by examining the trends in discourse that have emerged since the publication of Edward Said’s seminal work in 1978. It builds on Hallaq’s other contributions to the field on the topics of modernity, politics, and Islamic law over the last forty years, most notably Sharī’a: Theory, Practice, Transformations (Cambridge University Press, 2009) and The Impossible State: Islam, Politics, and Modernity’s Moral Predicament (Columbia University Press, 2013). In the paratextual material, Hallaq advises readers to treat Sharī’a and The Impossible State as …

The Cycle Of Insecurity: Reassessing The Security Dilemma As A Conflict Analysis Tool, David Mitchell

Peace and Conflict Studies

This article critically reassesses one of the classic ideas in International Relations, the security dilemma. It argues that the key insight of security dilemma theory has been obscured – by reductionist debates on single causes of conflict, inconclusive applications, and definitional disputes – and that the security dilemma’s enduring utility is as a model of the relational dynamic inherent in all conflict, the cycle of insecurity. Through a reappraisal of the literature, the article elucidates three essential dimensions of the cycle: an environment of structural uncertainty; interdependent collective identities; and an escalating and self-perpetuating dynamic. The power and validity of …

Can The Us And Europe Contain Russian Power In The European Energy Market? A Game Theoretic Approach, Jesse Richman, Nurullah Ayyilmaz

Political Science & Geography Faculty Publications

The Russian history of politicization of natural gas supplies led Europe to seek alternatives. US LNG is considered to be a viable alternative for Europe, which positioned the US as a strong competitor against Russia. In a game theoretic approach, we model this strategic decision-making process in simultaneous-move and sequential games. Our findings indicate a mixed strategy equilibrium: Europe cannot commit to diversify in the face of Russian advantages, and Russia cannot fully resist the temptation to politicize its supplies to Europe. The US might attempt to intervene in the European commitment problem through implementing sanctions on Russian gas sales. …

How U.S. Government Policy Documents Are Addressing The Increasing National Security Implications Of Artificial Intelligence, Bert Chapman

Libraries Faculty and Staff Presentations

Artificial intelligence is affecting many areas of our lives and governmental policy. National security is one arena in which artificial intelligence is playing an increasingly important and controversial role. U.S. Government and military agencies are producing a steadily expanding corpus of publicly available literature on this topic. This literature documents how these agencies have this topic's national security implications historically and currently while also addressing potentially emerging national security issues where artificial intelligence will intersect with national security. This presentation demonstrates examples of the growing variety of publicly available national security artificial intelligence literature while also addressing the implications of …

Restoring International Justice: Exposing The Limitations Of Retributive Justice And Proposing A Restorative Dimension, Nazek Jawad

USF Tampa Graduate Theses and Dissertations

This dissertation exposes the limitation of international retributive justice in realizing interstate reconciliation and proposes including a restorative dimension into the existing international criminal justice system. I maintain that justice within the international criminal system is conceptualized purely on a punitive notion influenced by the liberal institutionalist understanding of the state and the international system. Hence, the current retributive structure does not engage rival stakeholders, who experience interstate wars, in the process of international justice, as it is centered on upholding international law and punishing states that violate the law. To this end, the current process is not equipped to …

From The President: It Takes A Community

DePaul Magazine

A. Gabriel Esteban, PhD, President of DePaul University, discusses how The Grace School of Applied Diplomacy was conceptualized and realized as the newest school in the College of Liberal Arts and Social Sciences.