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What We're Watching: Europe's brutal second wave, protests in Iraq, tough talk from Turkey

Doctor and medical colleagues treat a patient suffering from COVID-19 in the Intensive Care Unit (ICU) at the Robert Ballanger hospital near Paris during the outbreak of the coronavirus disease in France, October 26, 2020

Europe's second wave: After a brutal spring in which Europe emerged as a coronavirus epicenter, the outbreak largely subsided across the continent in the summer, allowing many Europeans to travel and gather in large groups. But now, a second wave of infection is wreaking havoc across Europe, with the region reporting more than 1.3 million cases this past week alone, according to the World Health Organization, the highest seven-day increase to date. Former coronavirus hotspots like France, Italy, Spain, and the UK are again grappling with a record number of new cases that could soon dwarf the out-of-control outbreaks seen this past spring. Meanwhile, countries like Germany, Poland, and the Czech Republic that staved off massive outbreaks in the spring are also seeing an unprecedented number of new daily cases. As Europe now accounts for around 22 percent of all new COVID infections worldwide, hospitals in many cities are being swamped as many struggle to source life-saving equipment. As a result, Spain declared a national state of emergency Sunday, imposing nighttime curfews, while Italy imposed its strictest lockdown since May. Europe's Center for Disease Prevention and Control warned against complacency, noting that while transmission is mostly between younger people, keeping the death rate low, that could swiftly change if Europe doesn't get the virus in check.

Iraq a year later: Marking a year since the outbreak of widespread protests over corruption and joblessness in one of the world's most oil-rich countries, demonstrators in Iraq have again flooded the capital, Baghdad, and other cities with renewed calls to clean up graft and implement broader political and economic reforms. In recent years, unemployment has surged in the country, and millions of Iraqis have fallen into poverty while politicians have continued to line their pockets. The government's brutal crackdown on the last protests in 2019 — killing more than 500 people — remains a rallying cry, even after months of the pandemic largely kept activists off the streets. Police responded to the new wave of demonstrations fiercely, tear-gassing protesters, some of whom hurled Molotov cocktails at security forces. We're watching to see whether this fresh mobilization on the streets will move the needle on overdue reforms. The outcome of the US election could also play a role: will a Biden administration put more pressure on Baghdad to clean up its act?

Erdogan playing with fire: Turkey's strongman president Recep Tayyib Erdogan let loose over the weekend, with a wild speech in which he dared the US to impose sanctions on his country, blasted the EU, and called French President Emmanuel Macron crazy. Erdogan is upset about Washington's warnings not to get more involved in the war over Nagorno-Karabakh, in which Ankara is openly backing Azerbaijan against Armenia, as well as US objections to Turkey's testing of an advanced missile system that it recently bought from Russia. Macron, for his part, needs "mental treatment," the Turkish president said, because of his views on "Islam and Muslims." Macron, who has traded barbs with Erdogan in the past, recently vowed to quash radical Islam after a jihadist beheaded a French teacher. Erdogan has a long history of throwing punches abroad to distract from problems at home, but with the Turkish lira hitting record lows, can he afford to be so pugnacious? The foreign investors whom he depends on to keep his economy afloat seem to think not.

Bank of America's $25 million jobs initiative provides Black and Hispanic-Latino individuals access to skills and training needed for jobs of the future. Learn more about the initiative, which involves partnerships with 21 community colleges, Historically Black Colleges and Universities, and Hispanic Serving Institutions.

Two weeks ago, Russia secured a deal to build a naval base in Sudan, its first new military facility in Africa since the end of the Cold War. The accord is a major milestone in Moscow's wider push to regain influence, and income, on a continent where the Kremlin was once a major player.

But with the ideological and military contests of the Cold War long over, what is Moscow doing in Africa today?

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Jon Lieber, who leads Eurasia Group's coverage of political and policy developments in Washington, offers insights on US politics:

Is Trump out of options now that William Barr said the DOJ found no election interference?

Trump's problem isn't William Barr not finding election interference, it's that he lost the election and he lost it by millions of votes, and he lost it in the most important key states by tens of thousands of votes. Now, this was a very close election. The three closest states, Wisconsin, Georgia, and Arizona, Trump only lost by 44,000 votes so far, and if he'd ended up winning those three, we'd have an Electoral College tie. But the election was not close enough that Trump's strategy of trying to kick this to the courts and then getting it to go all the way to the Congress, with an alternate slate of electors, it just wasn't possible. Had the election been a little closer, he might've had a shot. But as it is, his chances are over. Joe Biden's going to be inaugurated on January 20th.

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Listen: Benjamin Franklin famously called on American business leaders more than two centuries ago to "Do well by doing good." To him, that meant creating companies that were not just about the bottom line, but also that helped foster happier and healthier communities. Now, as 2021 approaches and the world recovers from the greatest crisis of our lifetimes, sustainable investing is a bigger discussion than ever. What does it mean, and how does it not only help the environment and societies but also build your bottom line? That's the topic of the latest episode of Living Beyond Borders.

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Iran's nuclear tug-of-war: Hardliners in Iran's parliament passed a bill Tuesday suspending UN inspections of its nuclear sites and giving the go-ahead to massively increase uranium enrichment unless the US lifts its sanctions by February. Iranian president Hassan Rouhani opposes the measure, saying it would be "harmful" to diplomatic efforts to revive the 2015 nuclear deal with the incoming Biden administration in the US. But Iran's parliament doesn't actually need Rouhani's approval to pass the law, and regardless, Supreme Leader Ayatollah Ali Khamenei will have the final say on policy – as always! If the law is passed, it will immediately raise the stakes for Biden, who takes office on January 20. Both he and Rouhani say they are keen to resume dialogue in hopes of reviving the nuclear deal, which President Trump walked out of in 2018. But just days after the architect of Iran's nuclear program was assassinated (likely by Israel with the US' blessing) the hurdles to even beginning those talks are rising fast.

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Reasons for Hope: COVID and the Coming Year. Watch on Friday. Dec 4 2020 12 noon - 1 pm ET


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Episode 9: Can sustainable investing save our planet?

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