Atlantic Council

First it was €40 billion.  Then it was €25 billion.  Now it may be as high as €50 ($68.1) billion.  The changes to Germany's proposed economic stimulus package rival those of TARP.  The plan, which will reportedly focus on schools and public works, remains stalled by conflicting domestic political debates over tax cuts within Merkel's governing coalition. 

Four months after the hot phase of Russia’s war on Georgia, Russia continues to violate the European Union-brokered ceasefire agreements of August 12 and September 8.  Notwithstanding, the EU on December 2 resumed Partnership and Cooperation Agreement talks with Russia, which it had suspended September 1 in the wake of Russia’s August assault on Georgia. 

In 2009, an east European should fill the top spot of a major international organization, a recent Economist editorial argues.  From power players like the EU Commission and NATO to "lesser posts" like OSCE, the Council of Europe, and the EBRD, east Europeans have been noticeably underrepresented at the leadership level. 

Gazprom has purchased a controlling 51 percent stake in Serbia's state oil company, NIS.  Equally as significant, Dmitry Medvedev and Serbian president Boris Tadic also signed a declaration of intent to include Serbia in the planned South Stream pipeline that will supply gas to Europe. 

Germany's fiscal stimulus package will be smaller than earlier announced.  Apparently, Spiegel's article from last week touting the availability of €40 ($56) billion in funds was incorrect; the figure is actually closer to €25 ($35) billion. 

After years of denying requests from the Bush administration, Europe may be ready to help President-elect Obama solve the Gitmo problem. When the U.S. government asked years ago that countries take in detainees freed from the Guantanamo military prison, only tiny Albania answered the call.

Following weeks of disagreement with Brussels, and France and the UK in particular, the German government has agreed to a second stimulus package of nearly €40 ($55.5) billion.  Merkel faced a strong backlash throughout Europe in recent weeks from critics who felt the government was not responding adequately to Germany's economic downturn.  Her refusal to spend more on the crisis has also cost her domestic popularity. 

"We are flying blind," the FT's editors declared after the Fed cut its federal-funds rate to a range of 0 to 0.25 percent on Tuesday.  Although Bernanke had indicated he was willing to employ unorthodox measures to lift the U.S. economy out of recession, few analysts expected such a dramatic cut. 

The EU has approved a sweeping bill to fight climate change. The European Parliament approved on Wednesday a deal on cutting greenhouse gas emissions, the final step in a year of talks to secure the world's broadest agreement yet to battle climate change.

"Robust" is the word now being used to describe the EU's mandate for its new anti-piracy mission, Operation Atalanta, in Somalia's treacherous waters.  With NATO's Operation Allied Provider officially ending last Friday, news is beginning to leak about Atalanta's rules of engagement.