Just under two kilometers from the ruins of the ancient Oracle of Delphi, once the spiritual center of classical Greece, the 10th Delphi Economic Forum unfolded this past week in the mountain town of Delphi, drawing over 1,000 participants from 70 countries to the Amalia Hotel. Against the backdrop of sweeping geopolitical shifts and economic volatility, the event gathered politicians, diplomats, analysts, academics, business leaders, and journalists for four days of intense discussion on the challenges redefining our world.
This year’s theme, “Reallocations,” captured the sense of flux dominating global affairs. With international markets still feeling the aftershocks of protectionist trade policies and a reshuffling of alliances, speakers approached the uncertainty with realism and—occasionally—prophetic tones. No one attempted to channel the ancient Pythia, but in a world where yesterday’s certainties are routinely overturned, many were willing to venture predictions.
In a conversation with Greek Prime Minister Kyriakos Mitsotakis, American geopolitical thinker Robert D. Kaplan cited a famous quote from Lenin: “There are decades when nothing happens, and there are weeks when decades happen.” Kaplan argued that the world hasn’t seen such concentrated change in over 80 years. Mitsotakis acknowledged the volatility of the current era but pushed back against the notion that globalization is in terminal decline. Dismantling the vast and intricate web of global supply chains, he noted, is not easily done. "It’s too early to declare the end of globalization," he said.
Elsewhere, Financial Times columnist Martin Wolf raised the possibility of a strategic realignment in Europe. In a dialogue with Greek journalist Alexis Papachelas, Wolf hypothesized that if Europeans come to see the United States as an unreliable partner, they may begin looking toward other global powers, such as China. He added, however, that we are not yet at that turning point.
Security concerns and the specter of historical repetition were also on the agenda. American political scientist Alexander Cooley asked whether the current moment more closely resembles 1989—the end of the Cold War—or 1939, on the brink of global conflict. Austrian diplomat Thomas Mayr-Harting suggested it might be closer to the interwar years, while American analyst Ian Lesser was more specific, placing us somewhere between 1929 and 1939. "We’re seeing economic warfare used strategically, and a rise in economic nationalism," he said.
While the forum covered a wide range of themes—artificial intelligence, justice systems, climate change, healthcare digitalization, energy security, and Greek-Turkish relations—Trump’s political future remained the most talked-about “elephant in the room.”
