ZEESHAN AFZAL

Neoliberalism was neither new nor particularly liberal when it prevailed 50 years ago. Its great advantage was its sharp deviation from classical liberalism. Even though it paid tribute to liberal thinkers, neoliberalism shared neither their method nor their concept of the market. Today, we are on the cusp of another, equally profound, ideological innovation. Unlike Adam Smith or John Stuart Mill, neoliberals felt no responsibility to demonstrate, theoretically or empirically, under what circumstances the unfettered market could be relied upon to transmute private profit-seeking into collective prosperity. The invisible hand was divine, infallible. Even when the market failed, they claimed, any attempt to correct it through some collective agency was doomed to fail more horribly. It was an attitude that suited Wall Street to a tee. The 1970s craved such doctrinal indifference to actual evidence about the consequences of fully deregulating financial markets. Once America had become a de...

  What is Nato and which countries are in it? Duncan Walker The US is considering options for punishing Nato allies which it considers to have failed to offer support during the Iran war, according to a Pentagon memo seen by Reuters. The proposals include suspending Spain from the political and military alliance, and reviewing the UK's claim to the Falkland Islands. A Nato official told the BBC that "Nato's founding treaty does not foresee any provision for suspension of Nato membership, or expulsion". Downing Street said the sovereignty of the Falkland Islands "rests with the UK". What has Trump said about Nato? The reported Pentagon memo considering steps against other Nato members follows a series of attacks on the organisation by US President Donald Trump. He has repeatedly criticised Nato allies for their reluctance to play a greater role after the US and Israel attacked Iran in late February and Iran subsequently restricted shipping through the key Str...

Germany says US troop withdrawal 'foreseeable' as Nato seeks clarification ........ Germany says US troop withdrawal 'foreseeable' as Nato seeks clarification German Defence Minister Boris Pistorius has said the US decision to withdraw 5,000 troops from his country was "foreseeable", as the Nato military alliance says it is seeking clarification from Washington. Speaking to the DPA news agency, Pistorius also stressed that "the presence of American soldiers in Europe, and particularly in Germany, is in our interest and in the interest of the US". Meanwhile Nato spokeswoman Allison Hart said the alliance was "working with the US to understand the details of their decision". Washington's move comes after President Donald Trump criticised German Chancellor Friedrich Merz for saying the US had been "humiliated" by Iranian negotiators in the ongoing war. The US military deployment in Germany - currently at more than 36,000 active d...

  Mojtaba Khamenei says new management of Strait of Hormuz 'will bring calm' Trump faces domestic political pressure to end war; US seeking coalition to coordinate passage through Hormuz By AFP | Reuters | Published April 30, 2026 Khamenei says US faces disgraceful defeat in its plan. Iran to secure Gulf, eliminate "enemy's abuses”: supreme leader. Iranian rial has fallen to historic lows against dollar. Iran's new Supreme Leader Mojtaba Khamenei said in a published written message on Thursday that a new chapter for the Gulf and Strait of Hormuz has been taking shape since the Iran war with the United States and Israel broke out on February 28. Iran's Supreme Leader said that Tehran would secure the Gulf region and eliminate what he described as "the enemy's abuses of the waterway." The Supreme Leader added that new management of the Strait of Hormuz would bring calm, progress and economic benefits to all Gulf nations. "Today, two months aft...