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For better or worse, governments tend to be defined by their handling of foreign crises. Weather one well, and you project an image of strong, principled leadership, much like the way Margaret Thatcher's government managed its dispute with Argentina over the Falkland Islands. Dither or delay, and you telegraph an air of provocative weakness. (Think Jimmy Carter and Iran.)

President Obama and his Russian counterpart, Vladimir Putin, recently set a September date for bilateral discussions. The goal is to mend ties between the U.S. and Russia, badly frayed by the recent passage of tit–for–tat human rights sanctions, and attempt to put the administration's "reset" of relations with the Kremlin back on track. The White House has already suggested disarmament, Iran, North Korea and Syria as the main topics for the talks.