Three Mirages and Two Markets: Understanding the South Caucasus

Georgia, Armenia, Azerbaijan, and the breakaway territories within them constitute one of the most diverse and challenging regions on earth. Over the last few years, the South Caucasus has captured international attention again because of its role in disputes between the West and Russia, its unresolved ethnic conflicts, and its role as a crucial energy transport corridor to Europe.

In his new book, The Caucasus: An Introduction, Tom de Waal offers an essential guide to the region, covering its history, Russia’s role, energy politics, and dramatic developments in Georgia from the Rose Revolution of 2003 to the August War of 2008.

In a lecture based on his book, entitled “Three Mirages and Two Markets: Understanding the South Caucasus," De Waal explores the misperceptions of the South Caucasus and Western policy failings towards it.


  • Thomas de Waal, Senior Associate, Russia and Eurasia Program, Carnegie Endowment for International Peace
  • Rajan Menon, Anne and Bernard Spitzer Professor of Political Science, City College of New York/City University of New York (moderator)
  • Anthony Richter, Director of the Open Society Foundations Central Eurasia Project (introduction)

A recent article on the topic by De Waal, published by the Carnegie Endowment, is available below for download.

Date: September 24, 2010
Time: 12:002:00 p.m.

OSI-New York

Rajan Menon, Anthony Richter, and Thomas de Waal