The Arab Spring, a cascading series of popular uprisings against entrenched authoritarian regimes in several Arab countries throughout 2011, sparked hope of a welcome and long overdue march to a more inclusive and open government in the Middle East. However, setbacks in Egypt, detours in Libya and Tunisia, and a blood-soaked quagmire in Syria have darkened prospects for democracy and economic revival. Risks of continued social unrest and economic decline could threaten stability in the region.

Adding to and complicating the fragile political and security situation across the Arab region, is the heightened tension in the Gulf in the wake of the breakdown of talks on Iran’s nuclear program. Any further escalation in the crisis could bring with it a military confrontation which would sharply reverse the welcome slide in oil prices and thereby aggravate the prospects for global economic recovery. The far reaching political and economic implications are discussed in the teleconference below.