Nobody can pinpoint the date on which Europe will start to pull out of its financial nosedive. But there's a phrase that captures the general idea: one minute to midnight. READ MORE

On May 20, Tomislav Nikolic was elected president of Serbia in a second-round runoff against incumbent Boris Tadic. Tadic, who sought a third term, and his Democratic party, have been described as victims of Serbian populist opposition to European Union financial austerity. Nikolic, candidate of the Serbian Progressive Party (SPS), calls for Serbia to join the EU but favors economic coordination with Russia instead of Western Europe. Tadic now seeks the prime minister’s post. READ MORE

Putin's return to the presidency was not unexpected; he was never really unseated as Russia's leader, even during Dmitri Medvedev's presidency. But it comes as an anti-incumbent trend is developing in Europe, most recently demonstrated when socialist challenger Francois Hollande defeated Nicolas Sarkozy in France's presidential elections. In response to these changes, Putin will have to adjust Russia's approach in Europe. READ MORE

Just three days before his return to the Kremlin as Russia’s president, Vladimir Putin met behind closed doors at his residence in Novo-Ogaryovo, outside Moscow, with US National Security Adviser Tom Donilon, who was there to transmit President Barack Obama’s renewed determination to strengthen cooperation with Russia. But Donilon returned home empty-handed: Putin will attend neither the G-8 summit on May 18-19 at Camp David, nor the NATO summit in Chicago on May 20-21, despite Obama’s effort to accommodate Russia by moving the G-8 summit from Chicago. READ MORE