The US-Iran agreement is only a First Step
By Mohamed A. El-Erian. * Washington, DC—Sunday’s announcement of a memorandum of understanding between the United States and Iran is an important step forward. After months of open hostilities that have exacted a heavy toll in both lives and livelihoods, and inflicted significant economic damage worldwide, the memorandum provides a much-needed foundation for diplomacy that […]
The US-Iran agreement is only a First Step
By Mohamed A. El-Erian. *
Washington, DC—Sunday’s announcement of a memorandum of understanding between the United States and Iran is an important step forward. After months of open hostilities that have exacted a heavy toll in both lives and livelihoods, and inflicted significant economic damage worldwide, the memorandum provides a much-needed foundation for diplomacy that could reverse the stagflationary spillovers of the war.
