With the adoption of its new External Energy Policy, the EU has finally made a first step towards its integration as a single negotiating bloc in the world energy market. As such the External Energy Policy could become an important factor in the global energy security picture and a possible geopolitical game-changer. However, it remains […]

The new streamlined credit line will “probably act as another form of quantitative easing, as the recipient countries would rather address liquidity, instead of the underlying fundamental problem — solvency,” said Alexander Mirtchev, head of Krull Corp. and president of the Royal United Services Institute for Defence and Security Studies International. “By its very nature,

In the run-up to the French G-20 summit, the rising tide of global economic turmoil and problems ranging from sovereign indebtedness to consumption and saving imbalances have created a ‘perfect storm’ that is far from abating. What are the challenges that G-20 leaders face in setting forth a concrete, viable roadmap that genuinely addresses the

In response to the Economist’s debate following Federal Reserve Chairman Bernanke’s speech at the annual meeting of central bankers in Jackson Hole, Wyoming, Mirtchev notes that governments worldwide, including the US Fed, should take a long and hard look at the inflationary impact of the policy responses of the day, i.e., QE3. The majority of

Inflation is a significant factor of global economic security and has the innate capacity to upend carefully laid plans and further upset the efforts to bring the global economy back into equilibrium. In that regard, the risks to recovery associated with higher interest rates should be carefully considered, as ultimately the choice may be between

In the wake of the global economic crisis, the world economy is trying to chart a path to a future equilibrium and find a “new normal.” There is an inherent danger that in the pursuit of recovery and a global economic security equilibrium, inflation has been deemed a target that can be sacrificed. As early

To what extent is the deteriorating global debt situation undermining efforts to return to sustainable economic growth worldwide? It appears that the debt problems of the developed countries have created an unstoppable momentum, prompting divergent reactions and proposals that are often inadequate to the scale of the problem. On the surface, the policies focus either

For a variety of reasons, SWF employees are typically quite reserved and guarded when speaking to the press. Not so for Dr. Alexander Mirtchev, who is the Independent Director and a member of the Board of Directors of Kazakhstan’s $30 billion National Welfare Fund Samruk-Kazyna. Mirtchev has given quite a compelling interview to G20 magazine (you can go directly to

What role do SWFs’ play in the wake of the worldwide financial and economic crisis? Mirtchev assesses the rising economic security relevance of SWFs, noting their historical underpinnings – the VOC (Dutch East India Company), the British East India Company and others. Today, they are taking on a contemporary role as economic power projection tools.

The deep pockets of Gulf sovereign wealth funds (SWFs) could be an increasingly important source of funding for western economies facing spending cuts in the new era of austerity. Projects in Europe may become more financially attractive for the region’s government investment vehicles as austerity measures by EU governments depress market valuations, said Dr Alexander