- The former British Governor of Hong Kong, Chris Patten, explains why he’s not grumpy about the current state of international politics – perhaps an outside candidate for the role of EU Foreign Minister? Le Monde diplomatique, meanwhile, suggests that the path to Lisbon has emphasised the gap between European governments and their citizens.

- John Gapper takes a look at Warren Buffett’s $27 billion deal to buy the railroad company BNSF, and explores what the “Sage of Omaha’s” latest move says about the basis of US economic recovery. Harold James, meanwhile, assesses the current state of monetary policy following the financial crisis, suggesting that we may be heading towards “international monetary chaos”.

- Elsewhere, the Daily Beast reproduces the “lost” victory and concession speeches that Sarah Palin never gave on election night one year ago – making for interesting reading indeed.

- Finally, over at Oxfam, Duncan Green laments the familiar refrain of NGOs, international institutions and governments alike to the need for “political will” and “good governance” when trying to achieve reform. Greater investment in “political literacy” and deeper “power analysis” instead, he suggests, should underpin attempts to bring about such change.

KTUU – ‘Alaska’s news source’ – has the [few] details:

Gov. Sarah Palin will resign her office in a few weeks, she said during a news conference at her Wasilla home Friday morning. Lt. Gov. Sean Parnell will be inaugurated at the Governor’s Picnic at Pioneer Park in Fairbanks on Saturday, July 25, Palin said.

There was no immediate word as to why she will resign, though speculation has been rampant that the former vice presidential candidate is gearing up for a run at the 2012 Republican presidential nomination.

Steve Benen’s take:

Palin is making a terrible mistake. The lure of the national spotlight is strong, and the day-to-day challenges associated with running the executive branch of a state are no doubt difficult. There are probably plenty of far-right activists and donors whispering in Palin’s ear, telling her to ignore the naysayers and realize she’s ready to lead the nation, but she’s listening to the wrong people. Walking away from the governor’s office after one term is incredibly foolish — but walking away from the governor’s office after two and a half years in office is stupefying.

But the best comment (predating today’s announcement) is from conservative blogger Reihan Salam, who according to Benen “defended Palin repeatedly over the last several months, making excuses for her shortcomings, and arguing valiantly that Palin is a credible national figure” before reluctantly giving up:

Palin’s campaign antics can be forgiven. What can’t be forgiven is the ham-handed way she’s tried to build her national profile since she returned to Alaska. She’s abandoned the bold right-left populism that won over Alaska voters — and me — in the first place in favor of an increasingly defensive and harsh partisanship…. One can’t help but get the impression that Palin is a clownish, vindictive amateur…. What I’m wondering is: Has Sarah Palin undergone some kind of secret lobotomy?