The world is going through a historic crisis that marks the end of power systems and relations that have dominated the world since the end of World War II. The dynamics in the heart of the accelerated globalization phenomena and unbridled expansion of the market in the last twenty years come to collapse. International relations in all fields (finance, economics, currencies, strategy, diplomacy, …) are subject to an unprecedented rebalancing since decades.
This creates new global balances (and imbalances) that rapidly replace those inherited from the last two major breaks in the world order, namely the Second World War and the fall of the Iron Curtain. Whether it is for peaceful management of tensions that are emerging at all levels of global governance inherited from the twentieth century, amid a continuing global systemic crisis, the global players, old, new or resurgent must be bold and innovative to attempt to lay the foundations of global governance in the twenty-first century. The Euro-BRICS initiative, laid jointly since 2010 by LEAP/E2020 and MGIMO is now supported by an active network of European, Brazilian, Russian, Indian, Chinese and South African experts, is without doubt a promising partnership which can serve as a basis for such a renewal.