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In this paper, the authors analyze the possibilities and advantages of realization of the idea of creating the European Monetary Fund, the European equivalent of the IMF. European officials and experts believe that the financial crisis in the European Union, as was the case in Greece, can be successfully solved within the EU institutions. The assistance that the EMF would provide would be stipulated by fulfilment of strict conditions. The ECB, which insists on independence, would join it in establishing this mechanism, since not any has been created so far that would provide financial assistance to members of the Eurozone.

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Terrorism as a phenomenon of the modern society threatens to jeopardise the most important achievements of the modern society. The international community devotes much attention to the fight against terrorism and a number of legal instruments and standards that illustrate the basic message have been formulated in international documents – and the message is that it is possible to fight against terrorism effectively only if principal standards of internationally protected human rights are fulfilled. The fight against terrorism must never lead to the abolition of values and freedoms that are imperilled by terrorist acts. Even if the need to impose certain restrictions for protection of legitimate interests arouses they must be controlled, while they should protect basic human rights and freedoms. Regulating formal conditions for human rights limitation is the way to control the fight against terrorism and prevent the unlimited space for violation of the established and guaranteed freedom standards. The paper refers to the provisions of the European Convention on Human Rights and Fundamental Freedoms and the International Covenant on Civil and Political Rights, which provide some limitations to the guaranteed human rights as well as the limitation to their usage also exploring to what extent these restrictions are applied in the fight against terrorism.

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This paper presents a brief review and analysis of advisory proceedings before the International Court of Justice as well as an explanation of the nature and importance of advisory opinions as specific decisions of the International Court of Justice. The intention was to make the public more familiar with the nature of these proceedings drawing attention of the professional public to some specific elements that characterize advisory procedures, which in a sense make them closer to the proceedings in resolving disputes between states. Although not binding by their nature as are decisions of the Court, advisory opinions have, however, some weight and importance that primarily stem from the importance and authority of the body that provides them. A non-binding effect of advisory opinions is just a starting point in explaining them. Actually, it is the fact that opinions have a great authority and this requires some further explanations.

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Providing the answer to chosen research question on sustainability of diplomacy today is guided by the leading assumption that state is not the sole owner of diplomacy. Relying on ordered existing construction of theoretically and empirically gathered evidence that from its beginnings diplomacy has belonged to every social person and every society the first part of the analysis is used for summing up the indicators and findings why diplomacy could not be enlisted as one of “extinct species”, nor the state for that matter as one of its territorially sovereign entrepreneur. The account of theoretically produced body of knowledge on conditions of sustainable diplomacy is given in the second part. The focus in the third part is on the ongoing turn in understanding of diplomacy. It is growingly realized that its real lair is every social personality and all human societies (historic and geographic). This lair is now theoretically revisited. There are two most visible cognitive results gained. These are the concepts of social entrepreneurship and social power. Concluding remarks are taken for presenting exemplary diplomatic action of one among several of nowadays agile non-territorial sovereigns who by being entrepreneurial in global governance by agreement makes diplomacy sustainable. In wrapping up not only the finding that under existing conditions new forms of diplomatic action of different civil and commercial society entrepreneurs as non-territorial sovereigns make diplomacy sustainable is underlined, but also that it entails the change in entrenched thinking on organisational structure of assenting governance of global affairs.

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Developement in recent years suggets that Regional Trade Agreements have become a very prominent feature of the Multilateral Trading System and an important trade policy instrument for WTO Members. Regional agreements can play an important role in promoting trade and in fostering economic developement by increasing trade and FDI flows, and by integrating developing countries into the world economy. However, the proliferation of regional agreements and the development of complex network of preferential trade relations known as the “spaghetti bowl” phenomenon leads to trade diversion which reduce economic efficiency. There is the need to multilateralize regionalism. WTO rules could and should be modified to ensure that regional agreements are designed and implemented so to complement the multilateral process and not to undermine it. A step forward in that direction would be a developing a WTO Action Plan on Regionalism.

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The changes in internal and external policies are under way in Turkey. The secular state was threatened what has been followed by the process of revitalisation and affirmation of the Islamic tradition in Turkey. The state project “Turkey’s Strategic Vision 2023” has been worked out. It provides increase in its power that would turn Turkey from a regional power into a global factor. This requires radical changes in its foreign policy. Apart from the Islamic factor, Turkey’s plans are based on the geopolitical position of this country that sees itself as a hub of energy flows and the future centre of the three continents – Africa, Asia, and Europe. One of the steps towards those changes is the process of desecuritasion and securitisation that includes revitalisation of the religious factor. Radical changes in the Turkish foreign policy also include the Western Balkans as one the priorities of its close surroundings.