Klecha & Co. and Rosa & Roubini Associates (R&R) argue that recent crises are accelerating the fragmentation of the liberal international order and exposing the limits of Western power. The Iran war, the rise of low-cost drone warfare, and growing tensions between Washington and its allies have reinforced perceptions of strategic overstretch, while China and Russia continue expanding their influence through long-term economic and military mobilisation. At the same time, Europe faces a critical turning point: despite its vast economic weight, it still lacks the unified military, technological, and political capacity required to act as a sovereign geopolitical actor. The reports suggest that the EU’s future relevance will depend on whether it can transform itself from an economic bloc into a strategically autonomous power capable of defending democratic institutions, shaping global standards, and navigating intensifying great-power competition.
Klecha & Co. is a private investment bank focused on Technology, including Software, IT Services, Hardware and IoT. With offices in Milan, London and New York, its clients are private-sector companies, active contributors or solution providers for the ongoing digital revolution, with the opportunities and challenges arising from the digitalization of business processes.
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