Susan Walsh/ASSOCIATED PRESSPresident Obama counseled Europe Wednesday, but inadvertently reminded how economics can trump politics.
WASHINGTON — You still have to follow the money.
President Obama sliced up Vladimir Putin pretty good Wednesday.
He spoke eloquently of democratic ideals and told our European allies to man up militarily.
“We must never forget that we are heirs to a struggle for freedom,” Obama said in Brussels.
“At this moment, we must meet the challenge to our ideals, to our very international order, with strength and conviction.”
He added, “I come here today to say we must never take for granted the progress than has been won here in Europe and advanced around the world.”
But in also counseling Europe to reduce its dependence on Russian energy, he inadvertently reminded how economics really trumps politics.
MIKHAIL KLIMENTYEV/AFP/Getty ImagesRussia’s President Vladimir Putin will not relent unless his country starts getting hurt economically.
Not inviting Putin to A-list meetings or barring his oligarch chums from visiting their sprawling townhouses in London or New York won’t bring the Russian leader to his knees.
Putin won’t relent unless Russia starts getting hurt economically.
So let’s see if Europe, which gets 30% of its natural gas from Russia, has the guts to turn down the spigot.
Putin is a bully, but that’s in part because of the economic intimidation he wields.
Hurt his market share, you hurt him. Let’s see if bigshot customers like the Germans step up and look elsewhere.
Until then, talk is cheap.
