Isis has taken swaths of Iraq and instilled fear in the nation's neighbours, but is the declaration of a caliphate an act of hubris? FT's Frederick Studemann asks London School of Economics professor Toby Dodge and FT foreign editor Roula Khalaf.<br /><br />For more video content from the Financial Times, visit http://www.FT.com/video<br /><br />Subscribe to the Financial Times on YouTube; http://goo.gl/vUQx5k<br />Twitter https://twitter.com/ftvideo<br />Facebook https://www.facebook.com/financialtimes
