The triad of global crises and the new European triangle

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The Covid-19 pandemic, the severe economic recession, and increasing debt burdens represent a triad of global crises. The pressure of the crunch is mounting despite the availability of solutions and resources. So, what are the solutions to such problems? And will 2021 witness a breakthrough in international cooperation after years of tension, isolationism, protectionism, and various populist calls? The US and European leaderships have changed, and optimism now prevails that the US will return to multilateral international tracks. It has been announced that the US will rejoin the Paris Agreement on Climate Change and that the World Health Organisation (WHO) will again receive its support and financial aid.

Furthermore, a prominent African figure now presides over the World Trade Organisation (WTO) with hopes for unlocking its frozen dispute-settlement mechanism. This month, Mario Draghi was appointed the new prime minister of Italy, and the country will also head this year’s G20 Summit meeting. Draghi gave a speech a few days ago revealing the priorities of his government, which favour the interests of Europe and not only of Italy alone in reformulating international relations, especially with the US, China, and Russia. The move led a number of political analysts, including Melvyn more...