The Crisis Is Ending. The Vacuum Is Not.
The acute crisis is ending: premium erased, traffic resuming, seafarers evacuating, mines clearing, premiums halving. That is the most dangerous moment for the institution, because reform usually dies when the emergency passes. Crises build institutions because they concentrate the will that construction requires; reopening drains that will exactly when it removes the disruption that justified it. The window is closing. This post argues the strait needs its authority now, in the narrowing calm, or not at all.