By and large, each year brings with it its own peculiarities and unsavoury surprises sometimes, as well as exceptional moments of highs and lows. Well, the year that just ended has pretty much had large doses of all these. Time flies and in the blink of an eye seasons roll on, days turn into weeks and months and today we have woken up to a brand new year.

Politically and economically, 2011 has been an exceptional year for many of our neighbouring countries. Among the hundreds of stories, two main themes continued to make the news throughout the year − these being the ongoing economic saga blotting the European landscape and the tumultuous events in the Arab world.

By no stretch of the imagination is the European economic crisis over yet. The cracks and fissures that rocked the peripheral EU nations − Greece, Portugal and Ireland have now practically spread across the whole Union. A banking crisis that has festered for over four years has led to complete loss of confidence not only in the financial world but has also jeopardised the credit worthiness of entire nations. As governments topple across Europe and new blood is injected into administrations across the board, it remains clear that the worst has perhaps still to come.

Clearly there is still much to be done. As the festive season winds down, the spectre of this ongoing crisis will re-emerge to haunt the sleepless nights of many economic and political leaders across the continent. In the meantime, austerity is the flavour of the day. After years of profligate spending, administrations across Europe are being forced to tighten their belts and their purse strings considerably. All this has had its predictable effects. Billions have been spent on bailouts as economies teetered on the brink of financial collapse.

While still recuperating from the last bout of recession, many European countries might possibly experience another economic freeze that will affect jobs, consumption and growth. It will not be easy for leaders to achieve a delicate balance between the harsh economic realities and social imbalances that appear to be on the rise across the whole of Europe.

Undoubtedly, 2011 has also been all about the Arab Spring. From the four corners of the Arab world, fiery sparks ignited entire populations from the Maghreb all the way to Bahrain and Syria. In the early days of 2011, temperatures were already soaring in places like Tunisia and Egypt. Yet the bloody events in Libya must surely be the focal point of this year’s turbulent and often violent uprisings.

Starting February, Malta would play a role unprecedented in its last 50 years of self-determination. Within a relatively short period of time our imminent neighbour Libya would descend into an orgy of chaos and violence surely unpredicted and unimagined by even the most bearish against the Gaddafi regime. Thousands would lose their lives in a quest to bring down a corrupt regime that had governed Libya with an iron fist for over 40 years.

In all of this our tiny islands would play a regional role of significant logistical and humanitarian importance. Clearly our Prime Minister had his work cut out for a prolonged period of time as the Libya story. Lawrence Gonzi had to face up to a reality that was increasingly unavoidable. A number of very difficult decisions had to be taken with courage and humble determination. As he himself often points out, Malta chose to be on the right side of history. As events took their course, it would be easy to forget the collateral damage had things played out differently. It would be unwise not to celebrate our Prime Minister’s momentous decisions in this whole affair.

In the meantime life goes on. Another year with its own stories to be lived and told. Events and equations that must be worked out across the globe. Clearly, the themes underlined will probably continue to dominate and, hopefully, challenges will be resolved or somewhat mitigated. Geopolitical and economic realities suggest a demanding year ahead with its intricacies, complexities and stark realities. Hopefully, humanity will continue to steer a course based on a spirit of peace and solidarity.

A Happy New Year to all!

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