REUTERS/Yannis BehrakisA pedestrian runs to avoid a fire caused by a petrol bomb thrown by protesters during a rally to mark the 2008 shooting of a student by police in Athens' Syntagma (Constitution) square December 6, 2012. Just two years ago Ian Bremmer, the head of Eurasia Group, stated that "political risk in the developed world is ... overstated."
Today, things are a bit different:
"Geopolitics is back," write Ian Bremmer and Cliff Kupchan in Eurasia Group's annual list of the top risks. "As 2015 begins, political conflict among the world's great powers is in play more than at any time since the end of the Cold War."
ISIS, Russia, China, and the emerging markets are major risks in the upcoming year, but the biggest one this year is actually Europe because of increased political instability, according to Bremmer and Cliff Kupchan.
We've put together Bremmer and Kupchan's top 10 risks for 2015, along with key explanations and - bonus - a list of red herrings.