Recent weeks have made clear that the alliance doesn’t just have a Turkey problem. It has a Spanish one as well, and the latter is likely to emerge as a real headache for U.S.-NATO relations when the dust from the current Iran conflict finally clears.
The strengthening shekel stands as a powerful testament to how both foreign investors and Israelis themselves view the country’s long-term prospects.
Iran’s economy is already crippled, but still resilient. The US economy is less threatened, but its political system is less tolerant of short-term economic pain.
In the wake of this weekend’s failed negotiations in Islamabad, the Iran conflict is back on. So, too, are the Trump administration’s efforts to bring the Islamic Republic to heel.