From left, right, and center, the Obama Administration is getting slammed for opposing the Asian Infrastructure Investment Bank (AIIB), and for seeking to dissuade nations from joining. As of today, there are 32 nations either confirmed to be AIIB founding members, or in the process of doing the paperwork. The United States is the odd man out.

A selection from the latest batch of attacks:

“Diplomatic Disaster: Obama Humiliated by Allies’ Rush to Join China’s New Bank.” In the Washington Times March 18, David R. Sands writes that, “The battle of wills between Beijing and Washington over a China-sponsored development bank for Asia is turning into a rout, and the Obama Administration has found itself isolated and embarrassed….”

U.S. Allies, Lured by China’s Bank The New York Times conveys the sense of failure from the Obama administration, in this piece from March 20th.

The Obama administration, to its embarrassment, has been spurned by Western allies flocking to a China-led Asian development bank, defying White House pleas to stand back…In significant ways, this is a problem of America’s own making…it seems to have no coherent plan for dealing with the new bank.

“An Influential Voice Slams U.S. Handling of New China-Led Infrastructure Bank.” In a ChinaRealTime posting run by the Wall Street Journal, March 19, writer Ying Ma features the criticisms of Robert Zoellick, former World Bank president, and U.S. Trade Representative and Deputy Secretary of State in the George W. Bush administration.

Obama’s approach is “mistaken both on policy and on execution.” Zoellick means that the U.S. should have seen the AIIB as an “opportunity” to push on China, U.S. objections such as anti-corruption, and governance issues. “If I had been at the World Bank, I would have tried to embrace the AIIB as a partner,” Zoellick said. On Obama’s failure of “execution” of policy, author Ying Ma wrote that no alternative to shunning the AIIB was proffered by the U.S. to nations. Zoellick said, “After the Obama administration pressured allies and partners not to join, it seemed to drop the ball….”

“China Takes a Jab at U.S. as Europeans Back Asian Bank.” In the Washington Post March 19, Simon Denyer reports on “the significant diplomatic setback for the United States…[with]…the European decision to break ranks with Washington,” over the AIIB. Specific criticisms by three individuals are reported.

David Sedney, former State Department official: “The Administration has made a major mistake. Not just our refusal to take part in the bank, but the pressure on our allies not to take part, was very short-sighted…. And it is clearly going to go ahead whether we like it or not….”

Thomas Wright, at the Brookings Institution, wrote that the U.S. policy on the AIIB has been “confused and contradictory.”

Paul Haenle, Director of the Carnegie-Tsinghua Center in Beijing, said the Obama Administration has “played it very badly…. We are going to come out looking insecure and weak…”

From left, right, and center, the Obama Administration is getting slammed for opposing the Asian Infrastructure Investment Bank (AIIB), and for seeking to dissuade nations from joining. As of today, there are 32 nations either confirmed to be AIIB founding members, or in the process of doing the paperwork. The United States is the odd man out.

A selection from the latest batch of attacks:

“Diplomatic Disaster: Obama Humiliated by Allies’ Rush to Join China’s New Bank.” In the Washington Times March 18, David R. Sands writes that, “The battle of wills between Beijing and Washington over a China-sponsored development bank for Asia is turning into a rout, and the Obama Administration has found itself isolated and embarrassed….”

U.S. Allies, Lured by China’s Bank The New York Times conveys the sense of failure from the Obama administration, in this piece from March 20th.

The Obama administration, to its embarrassment, has been spurned by Western allies flocking to a China-led Asian development bank, defying White House pleas to stand back…In significant ways, this is a problem of America’s own making…it seems to have no coherent plan for dealing with the new bank.

“An Influential Voice Slams U.S. Handling of New China-Led Infrastructure Bank.” In a ChinaRealTime posting run by the Wall Street Journal, March 19, writer Ying Ma features the criticisms of Robert Zoellick, former World Bank president, and U.S. Trade Representative and Deputy Secretary of State in the George W. Bush administration.

Obama’s approach is “mistaken both on policy and on execution.” Zoellick means that the U.S. should have seen the AIIB as an “opportunity” to push on China, U.S. objections such as anti-corruption, and governance issues. “If I had been at the World Bank, I would have tried to embrace the AIIB as a partner,” Zoellick said. On Obama’s failure of “execution” of policy, author Ying Ma wrote that no alternative to shunning the AIIB was proffered by the U.S. to nations. Zoellick said, “After the Obama administration pressured allies and partners not to join, it seemed to drop the ball….”

“China Takes a Jab at U.S. as Europeans Back Asian Bank.” In the Washington Post March 19, Simon Denyer reports on “the significant diplomatic setback for the United States…[with]…the European decision to break ranks with Washington,” over the AIIB. Specific criticisms by three individuals are reported.

David Sedney, former State Department official: “The Administration has made a major mistake. Not just our refusal to take part in the bank, but the pressure on our allies not to take part, was very short-sighted…. And it is clearly going to go ahead whether we like it or not….”

Thomas Wright, at the Brookings Institution, wrote that the U.S. policy on the AIIB has been “confused and contradictory.”

Paul Haenle, Director of the Carnegie-Tsinghua Center in Beijing, said the Obama Administration has “played it very badly…. We are going to come out looking insecure and weak…”

From left, right, and center, the Obama Administration is getting slammed for opposing the Asian Infrastructure Investment Bank (AIIB), and for seeking to dissuade nations from joining. As of today, there are 32 nations either confirmed to be AIIB founding members, or in the process of doing the paperwork. The United States is the odd man out.

A selection from the latest batch of attacks:

“Diplomatic Disaster: Obama Humiliated by Allies’ Rush to Join China’s New Bank.” In the Washington Times March 18, David R. Sands writes that, “The battle of wills between Beijing and Washington over a China-sponsored development bank for Asia is turning into a rout, and the Obama Administration has found itself isolated and embarrassed….”

U.S. Allies, Lured by China’s Bank The New York Times conveys the sense of failure from the Obama administration, in this piece from March 20th.

The Obama administration, to its embarrassment, has been spurned by Western allies flocking to a China-led Asian development bank, defying White House pleas to stand back…In significant ways, this is a problem of America’s own making…it seems to have no coherent plan for dealing with the new bank.

“An Influential Voice Slams U.S. Handling of New China-Led Infrastructure Bank.” In a ChinaRealTime posting run by the Wall Street Journal, March 19, writer Ying Ma features the criticisms of Robert Zoellick, former World Bank president, and U.S. Trade Representative and Deputy Secretary of State in the George W. Bush administration.

Obama’s approach is “mistaken both on policy and on execution.” Zoellick means that the U.S. should have seen the AIIB as an “opportunity” to push on China, U.S. objections such as anti-corruption, and governance issues. “If I had been at the World Bank, I would have tried to embrace the AIIB as a partner,” Zoellick said. On Obama’s failure of “execution” of policy, author Ying Ma wrote that no alternative to shunning the AIIB was proffered by the U.S. to nations. Zoellick said, “After the Obama administration pressured allies and partners not to join, it seemed to drop the ball….”

“China Takes a Jab at U.S. as Europeans Back Asian Bank.” In the Washington Post March 19, Simon Denyer reports on “the significant diplomatic setback for the United States…[with]…the European decision to break ranks with Washington,” over the AIIB. Specific criticisms by three individuals are reported.

David Sedney, former State Department official: “The Administration has made a major mistake. Not just our refusal to take part in the bank, but the pressure on our allies not to take part, was very short-sighted…. And it is clearly going to go ahead whether we like it or not….”

Thomas Wright, at the Brookings Institution, wrote that the U.S. policy on the AIIB has been “confused and contradictory.”

Paul Haenle, Director of the Carnegie-Tsinghua Center in Beijing, said the Obama Administration has “played it very badly…. We are going to come out looking insecure and weak…”

Former Italian Finance Minister and current Senator Giulio Tremonti took to the Senate floor Martch 18th, after a report by Prime Minister Matteo Renzi, and rebuked the EU policy towards Greece. Looking at the current sufferings of the Greek population, not even Margaret Thatcher would dare to push for the EU reforms, he said, and compared Brussels to the court of Roman Emperor Elagabalus, one of the most degenerate of Roman emperors (r. 218-222 AD).

“The problem is not that Greece entered Europe, but that Europe entered Greece. The causes of the crisis are not, as someone says, related to the obscure and opaque Greek government budget, an almost negligible entity. The real Greek tragedy came from the private financial side, and starting with the euro. In a euphoric dimension starting in 2002, an enormous flow of capital was lent by European banks to Greek society, joyfully financing the Olympics, swimming pools and cars (the latter not exactly ‘Made in Greece’) and various illusions.

For a decade, merriment was bilateral, both among the debtors, and also the creditors, who were cashing huge flows of receivable interest. Fatally, the crisis came. See, on the basis of the law of market economy, if debtors fail, creditors fail, too. In the case of Greece, the opposite occurred. And thus, aid to Greece, including what we generously made, helped everybody and especially German and French creditor banks — everybody except the Greeks. After the European cure, Greek government debt rose and Greek GDP fell. And yet, in a compulsive way, Europe demands from Greece more privatization, more liberalization.

Looking at the current conditions of the Greek people, not even Margaret Thatcher would ask for such measures!”

Basic European values, Tremonti said, are no longer “those of our historic tradition,” but they are rather those of a “pre-Christian and pagan past…I want to be clear: Elagabalus, with his set of values and his lifestyle, would perfectly fit in the Luxembourg court.”

According to historian B.G. Niebuhr, “The name Elagabalus is branded in history above all others” because of his “unspeakably disgusting life.”

Former Italian Finance Minister and current Senator Giulio Tremonti took to the Senate floor Martch 18th, after a report by Prime Minister Matteo Renzi, and rebuked the EU policy towards Greece. Looking at the current sufferings of the Greek population, not even Margaret Thatcher would dare to push for the EU reforms, he said, and compared Brussels to the court of Roman Emperor Elagabalus, one of the most degenerate of Roman emperors (r. 218-222 AD).

“The problem is not that Greece entered Europe, but that Europe entered Greece. The causes of the crisis are not, as someone says, related to the obscure and opaque Greek government budget, an almost negligible entity. The real Greek tragedy came from the private financial side, and starting with the euro. In a euphoric dimension starting in 2002, an enormous flow of capital was lent by European banks to Greek society, joyfully financing the Olympics, swimming pools and cars (the latter not exactly ‘Made in Greece’) and various illusions.

For a decade, merriment was bilateral, both among the debtors, and also the creditors, who were cashing huge flows of receivable interest. Fatally, the crisis came. See, on the basis of the law of market economy, if debtors fail, creditors fail, too. In the case of Greece, the opposite occurred. And thus, aid to Greece, including what we generously made, helped everybody and especially German and French creditor banks — everybody except the Greeks. After the European cure, Greek government debt rose and Greek GDP fell. And yet, in a compulsive way, Europe demands from Greece more privatization, more liberalization.

Looking at the current conditions of the Greek people, not even Margaret Thatcher would ask for such measures!”

Basic European values, Tremonti said, are no longer “those of our historic tradition,” but they are rather those of a “pre-Christian and pagan past…I want to be clear: Elagabalus, with his set of values and his lifestyle, would perfectly fit in the Luxembourg court.”

According to historian B.G. Niebuhr, “The name Elagabalus is branded in history above all others” because of his “unspeakably disgusting life.”

Former Italian Finance Minister and current Senator Giulio Tremonti took to the Senate floor Martch 18th, after a report by Prime Minister Matteo Renzi, and rebuked the EU policy towards Greece. Looking at the current sufferings of the Greek population, not even Margaret Thatcher would dare to push for the EU reforms, he said, and compared Brussels to the court of Roman Emperor Elagabalus, one of the most degenerate of Roman emperors (r. 218-222 AD).

“The problem is not that Greece entered Europe, but that Europe entered Greece. The causes of the crisis are not, as someone says, related to the obscure and opaque Greek government budget, an almost negligible entity. The real Greek tragedy came from the private financial side, and starting with the euro. In a euphoric dimension starting in 2002, an enormous flow of capital was lent by European banks to Greek society, joyfully financing the Olympics, swimming pools and cars (the latter not exactly ‘Made in Greece’) and various illusions.

For a decade, merriment was bilateral, both among the debtors, and also the creditors, who were cashing huge flows of receivable interest. Fatally, the crisis came. See, on the basis of the law of market economy, if debtors fail, creditors fail, too. In the case of Greece, the opposite occurred. And thus, aid to Greece, including what we generously made, helped everybody and especially German and French creditor banks — everybody except the Greeks. After the European cure, Greek government debt rose and Greek GDP fell. And yet, in a compulsive way, Europe demands from Greece more privatization, more liberalization.

Looking at the current conditions of the Greek people, not even Margaret Thatcher would ask for such measures!”

Basic European values, Tremonti said, are no longer “those of our historic tradition,” but they are rather those of a “pre-Christian and pagan past…I want to be clear: Elagabalus, with his set of values and his lifestyle, would perfectly fit in the Luxembourg court.”

According to historian B.G. Niebuhr, “The name Elagabalus is branded in history above all others” because of his “unspeakably disgusting life.”