One criticism that you not likely to hear about the Russian government is its lack of enthusiastic applications of new media technologies.  The Prime Minister posts his topless photos at a much more timely rate that the White House page is updated, the President has impressive blogs and video podcasts, they've got a school of bloggers to push the official government line and drown out online dissent, and now, Dmitry Rogozin, Russia's envoy to NATO, has got himself a pretty robust Twitter feed in English and Russian going on right here.This is particularly fun stuff to read, and not just because Rogozin's essential professional function is to be like a Russian version of John Bolton before ...

TODAY: EU Russia-Georgia report out! Tilted towards blame on Georgia; Russia claims vindication on who started it issue; denies report's accusations of Moscow violating international laws; PR machines crank up on both sides.  PACE to vote today on rights; Yushchenko says he will meet Medvedev despite recent freeze in relations; Medvedev to ditch Putin's wordsmith? 'Open hostilities began with a large-scale Georgian military operation against the town of Tskhinvali and the surrounding areas, launched in the night of 7 to 8 August 2008' - the Telegraph quotes the EU report which suggests the blame for starting the war lies with Georgia, whose actions in South Ossetia were unjustifiable under international law.  Reuters argues the report is 'likely ...

TODAY:  Georgia-Russia tensions simmer in advance of EU report; Council of Europe hullabaloo.  Russia edgy on Washington's new defense scheme; Obama forward looking; Kremlin does not feel Iran missiles justify sanctions.  Journalist in hiding over anti-Soviet article; no joy for beer drinkers and hackersAccusations are flying ahead of today's publication of EU-backed report on the war in Georgia which is expected to be critical of both parties.  The Times says that Georgia has preemptively accused Russia of spreading 'patently false information about fictitious attacks on Russian peacekeepers'.  Tbilisi has also claimed that the report has concluded that Russian troops were responsible for ethnic cleansing during the conflict.  Russia is bristling at motions in the Parliamentary ...

I should immediately reassure my readers that I am not going to re-account or even continue Macro Man's story of 2007 in which Sherlock Holmes was looking for a vanishing bid in risky assets. Also, I am not sure that we are actually looking at a bid which will vanish but one which will perhaps taper off gradually or so at least is the estimated scenario policy makers would like markets to believe in. Of course, recent messages from the BOJ suggested a very cautious stance towards the economic outlook and although the ECB's chairman Trichet has ardently argued that an exit strategy from extraordinary financing provisions, the statement that, now is not the time to exit, still echoes most of the official messages coming from the ECB.

But perhaps more important than when to exit is the question of how and whether indeed it will be so

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TODAY: Obama firm on reasons for missile defense decision; Medvedev and Putin seem to take it as a positive sign; Putin wishes to see trade the next barrier broken; Russia will abandon Kaliningrad missile plans.  Pressure mounting regarding Iran situation; Israel apparently promises Medvedev no attack on Ahmadinejad regime.  Top cleric murdered in Ingushetia; disappearances abound.Barack Obama is still arguing the independence of his decision on missile defense saying, 'the Russians don't make determinations about what our defense posture is,' but if they are 'less paranoid' as a result, than can be considered a 'bonus'.  Defense Secretary Robert Gates has reiterated this position in an article in the New York Times.  Medvedev sees otherwise: '...

TODAY: US missile defense in Eastern Europe plans officially scrapped in favor of 'more efficient' new program.  A matter of concession or conviction on Obama's part; mixed reaction from former would-be host countries fearful of Russian dominance; is the US expecting Russian cooperation in Iran in return wonders media - and will it get it?  NATO to have increased involvement in new plans. Georgia and Russia to negotiate.  Gapzrom may get its tower. The US plans to build missile defense bases in Poland and the Czech Republic have been binned; the Moscow Times reprints President Obama's speech on the decision here.  'This is not about Russia',  White House spokesman Robert Gibbs has said.  According to the ...

TODAY: US to modify or jettison missile defense plans? NATO chief to meet with Russian envoy; Lukaschenko sends out mixed messages.  South Ossetia denies book burning; think tank leader says Putin could be heading for Brehznev-style decades in power; Medvedev finds inspiration on blogosphere.The Wall Street Journal reports that the White House may abandon the Bush-era missile defense plans which have caused consternation in Russia.  AP sources quoted on the Washington Post suggest a compromise measure, tempered to Russian concerns.  RFE/RL has an entertaining list of the 'dissidents' President Medvedev might like to meet on his upcoming US trip.  NATO Secretary General Anders Fogh Rasmussen and Russian envoy to the alliance Dmitry Rogozin will hold an ...

TODAY: Putin orders infrastructure overhaul; blogger charged; Rogozin praises cooperation with NATO; Abkhazia warns Georgia over blockade; criminal charges for 'negligent' Ingushetia police; fire at rights organization HQ; Medvedev warns United Russia against complacency.  Flag owners beware.Prime Minister Putin has ordered a review of all of Russia's Soviet-era structures in light of the Sayano-Shushenskaya power station disaster.  Russia's roads, airplanes, and pipelines have all shown signs of being dangerously outdated in recent times. Putin also promised payouts of $31,300 to each of the dead worker's families, to be paid by Rushydro.  The New York Times reports that blogger Mikhail Afanasyev, who questioned the government's handling of the disaster, has been charged with libel.  Envoy Dmitry Rogozin ...

TODAY: Human rights activist and husband murdered; Medvedev has idea for military abroad; Georgia suggests the Kremlin seeking justification for incursion.  Ukraine-Russia ties on the rocks; reports to be submitted about bribery.    President Medvedev has submitted a bill to the State Duma that would allow for the deployment of Russian troops almost anywhere overseas.  A Georgian Foreign Ministry spokesman has said that the new law is an attempt 'to place the aggression perpetrated against Georgia last year within a legal framework'.  The Ministry also says that Russia has not honored the terms of the cease-fire agreement and called Medvedev's thanking of Sarkozy, who helped to broker the peace deal, 'a cynical move'.  The Washington Post reports ...

TODAY: Georgia and Russia, one year on, guns quiet but war of words blazing: who started it?  Opposition says democracy far off; humanitarian issues remain; strike on Twitter linked to conflict.  Chavez military deal; Russia to calm Uzbekistan; launch radar.  Bloggers detained.'Differing narratives of the war persist': the New York Times looks back.  'There's even disagreement on what day marks the beginning of the five-day conflict'.  A 40-page report released by the Georgian government and a Russian Foreign Ministry statement highlight the different spins.  The Guardian outlines the arguments on both sides.  Georgia's Reintegration Ministry has defended the actions of President Mikheil Saakashvili in relation to the war, whilst the Georgian opposition brand the ministry's ...