Hello and welcome to the Intelligence from the Economist. I'm your host, Jason Palmer.

Every weekday we provide a fresh perspective on the events shaping your world.

This year's big AEA meeting of economists was unusual in its focus on the future rather

than making sense of the past. Our correspondent heard lots of research on home working and

what it'll mean for employees, companies, even politics.

And imagine this, banks that have to close temporarily to process piles upon piles of cash

that happens frequently in Cuba and the source of all that money, sellers of garlic.

But at first, this is the beginning of a diplomatic process. We are, we welcome the fact that

the Russian Federation is taking part in this dialogue with us. We think it's important.

American and Russian officials talked for nearly eight hours yesterday. There was little

to suggest progress in addressing the mounting tensions that brought them to the table, but

both sides agreed to keep negotiating.

Russia's deputy foreign minister Sergei Ryabkov said we urge the United States to be as

responsible as possible at this moment. The risks of escalating the confrontation can't

be overestimated. NATO diplomats will join negotiations tomorrow in Brussels, and on Thursday

there's a meeting in Vienna of the organization for security and cooperation in Europe.

This frenetic diplomacy comes after some serious saber rattling. Russia has a hundred thousand

troops stacked up on its border with Ukraine and has been talking tough. With the prospect

of a full-on invasion of Ukraine hanging in the balance, Russia and specifically its

president has a lot to ask. What Vladimir Putin really wants is a massive

retreat on the part of NATO that the Western military alliance that is led by America.

Shoshan Joshi is the economist's defense editor.

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