This Crimean crisis is, perhaps, reaching its apogee. As a referendum is held on the Black Sea peninsula, a territory 25pc bigger than Wales and home to 2m people, the stand-off between Russia and the West continues, dominating the global news-cycle.
Talk of a new Cold War is deeply alarmist. Politicians on both sides are posturing in front of each other and their respective electorates. Be in no doubt, though, relations between Russia and the US are now at their lowest ebb since the Soviet Union collapsed over 22 years ago.
I’ve been struck in recent days by the growing gulf between conflicting points of view towards the crisis in Crimea. I’m not referring to the firmly held differences in opinion between respective governments in London and Washington on the one hand and Moscow on the other. What I have in mind, after numerous conversations and broadcasts about Russia and Ukraine over the last week, and having closely followed events in this region for many years, is the polarization of opinion within the West itself.
As far as our politicians and diplomats are concerned, Russia remains the Cold War enemy, our implacably foe, where little or nothing has changed since US President Ronald Reagan dubbed the Soviet Union “the evil empire”. Never mind that the USSR collapsed almost a quarter of a century ago, or that it was 31 years ago yesterday that Reagan made that speech.
Who cares if post-Soviet Russia has transformed itself, via the chaos of the 1990s, from a closed, sclerotic, planned economy based on armaments and commodities, into a nascent capitalist society, well-integrated into global commerce and, unlike any other large emerging market, with a fully-open capital account?
It would appear that a deal has been struck in Ukraine. We must hope that it holds. The plan is to hold early presidential elections, by December 2014, while immediately returning to the 2004 constitution, which bolsters the power of Parliament.
It remains to be seen if these concessions will placate those who’ve protested so angrily and forcefully against incumbent President Victor Yanukovich. While keeping our fingers crossed for calm in Kiev, we should also watch closely the reaction of the many millions of Ukrainians in the Russian-speaking South and East of the country, who voted for Yanukovich as their President back in 2010. That election, let us not forget, was judged by the internationally-respected and Western-backed Organization for Security and Co-operation in Europe to be “fair”, “truly competitive” and an “impressive display” of democracy.
UK car sales are now the second-highest in Europe. I know that’s true because I repeatedly heard it on a variety of national news bulletins last week and read it on the front page of several respected business newspapers. Yet it’s only true up to a point.
No-one is denying that 2.3m new cars were sold in Britain in 2013, according to the Society of Motor Manufacturers and Traders. That compares to 2.9m cars bought in Germany and marks a 10.8pc increase on UK car sales the year before.