( CNN ) -- Italian President Giorgi Napolitano warned this week that the country could be on the verge of violent social uprising following more than a week of protests in several cities . This discontent in Italy comes at the same time as Ukraine is witnessing the largest civil unrest since the 2004 Orange Revolution . The protests highlight the significant political instability that has characterized international relations since 2008 , as was predicted by some . For instance , in February 2009 , U.S. Director of National Intelligence Admiral Dennis Blair asserted that `` the financial crisis and global recession are likely to produce a wave of economic crises . '' Then Secretary of State Hillary Clinton agreed `` this economic crisis , left unresolved ... will upend governments , [ and ] it will unfortunately breed instability . '' Five years on , these U.S. concerns have been at least partially borne out . However , the political instability that has ensued has had diverse origins , and the degree to which the financial crisis has been a driver has varied from country to country . In the European Union , for instance , millions have taken to the streets and administrations in more than half of the 27 member states fell or were voted out of office from Spring 2010 to 2012 alone . Within the core eurozone , 11 of 14 governments collapsed or were turfed out during that same two years . Even more eye-catching , however , have been the political revolutions and popular uprisings in emerging economies . This includes Ukraine and June 's demonstrations in Brazil ( the largest in the country for two decades ) ; through to what has been called the `` Arab Spring '' in North Africa and the Middle East , including the civil war in Syria ; revolutionary changes of power in Egypt , Tunisia , and Libya ; transfer of power in Yemen ; plus demonstrations and uprisings in Turkey , Iran , Algeria , Bahrain , Jordan , Morocco and Oman . Despite the diverse nature of this international political instability , from Rio , and Athens , to Cairo , it has reportedly been described as `` a revolutionary wave , like 1848 '' by Nigel Inkster , former director of operations for the UK Secret Intelligence Service . Others have compared the situation to 1914 , 1968 and 1989 . Whatever the validity of these historical analogies , it is clear that the current `` wave '' of volatility has been driven by a broad range of economic , political , social and technological factors . And , these have played out in contrasting ways across the world . In the European Union , for instance , the role of economic downturn and austerity since the 2008 financial crisis has been key , especially in those states most impacted by the Eurozone crisis like Greece and Spain . Unrest , however , has also tapped into pre-existing disquiet with established European political parties and systems . In the Middle East , by contrast , protest has often stemmed primarily from deep-seated political and socio-economic discontent that has existed for many years . Post-2008 , however , factors including liquidity crunches , increased food prices , and unemployment spikes , have exacerbated these longer-standing grievances . A key question is whether international political instability will tail off in coming years , especially if economic recovery takes hold in much of the world . While this is possible , protest and uprising is likely to continue in some countries for at least two sets of reasons . Firstly , even if the worst of the financial crisis has now passed , its consequences endure , especially for the increased number of young people who are unemployed . This puts many at risk of long-term damage to their earnings potential and job prospects , fuelling discontent . In the EU , a record 24.4 % of people under 25 are unable to find work . This has given rise to concern , including from German Chancellor Angela Merkel about a `` lost generation , '' especially in countries like Greece and Spain where youth unemployment is almost 60 % . As in Europe , youth unemployment in numerous Middle Eastern and North African countries is above 50 % , and it is estimated that the region 's average rate could breach 30 % within 5 years . In the Middle East , the problem is acute because it has the world 's biggest youth bulge comprised of increasing educated people . Secondly , there are some factors completely unrelated to the post-2008 financial crisis that will endure , if not intensify . This includes the disruptive role of social media . There remains debate about how instrumental social media has been in fomenting political instability in recent years , not least in the Middle East and North Africa . However , whether one sees this new technology as an essential component that translated discontent into concrete action , or accentuated what was already-inevitable , indisputably it has played an enabling role that will likely only grow . Taken as a whole , it is premature to claim , as some have done , that we have entered a new era of global revolution that is here to stay . Indeed , overall political instability may decline if the world economy enters a sustained recovery . However , there remains significant prospect of political volatility , as the current protests in Italy and Ukraine underline . While circumstances will vary from country to country , instability will potentially be fueled not just by legacy of the financial crisis such as higher youth unemployment , but also longer-standing political and socio-economic discontent which social media is giving new impetus . The opinions expressed in this commentary are solely those of Andrew Hammond .
Political instability has characterized international relations since 2008 , writes Andrew Hammond . Hammond : The impact of the financial crisis has varied from country to country . The popular uprisings in emerging economies such as Ukraine and Brazil have been eye-catching , he writes . Hammond : The current `` wave '' of volatility has been driven by a broad range of factors .