The Globalist – Friday, 2 January 2026

Host: Georgina Godwin, Monocle Radio
Episode Theme: Global news and analysis – from tragic events in Switzerland and Baltic sabotage, to economic and political developments across Europe, the US, and Turkey.

Episode Overview

The first Globalist episode of 2026 dives into breaking news and deep analysis:

• A devastating fire at a Swiss ski resort, prompting national reflection and questions about safety standards.
• Alleged Russian sabotage in the Baltic Sea, raising concerns about Europe’s critical infrastructure.
• Croatia’s lessons for Bulgaria on adopting the euro, with an honest look at economic trade-offs.
• Coverage of Iran’s protests, US political shifts, and Turkey’s rising ambitions in space and finance.
• Throughout, the tone is sharp, informed, and engaging, driven by first-hand correspondents and Monocle’s signature global perspective.

Key Segments and Insights

1. Swiss Ski Resort Fire: National Tragedy and Reflection

[01:40 – 12:06]

Incident Details & Impact

• Location: Le Constellation bar, Crans-Montana, Swiss Alps
• Casualties: ~40 dead, 115+ injured (80 critical, including children)
• Timing: Early hours of New Year’s Day, 2026

Swiss Response and Emotion

• Tyler Brûlé (Editorial Director, Monocle) – [02:51]:
  “It is a real moment here... There is really a lot of soul searching going on.”
• Flags at half-mast for 5 days; Swiss president immediately visits scene.
• Extraordinary emergency response: helicopter rescue (REGA system), mass medevacs, burn units nationally overwhelmed.

Cause & Media Discourse

• Speculation: Spark from champagne ‘sparklers’ ignited substandard soundproofing – possibly not up to code ([04:48]).
• Brûlé:
  “...soundproofing systems... when you have basses booming late into the hours in small villages... seems somehow that they had insulation that was not up to code.”

Broader Implications

• Tension between “cosiness” of alpine culture and strict Swiss regulation vs. real-world shortcuts/business pressures.
• Brûlé – [09:12]:
  “In the valleys, there are different sets of rules... a nudge and a wink and things can happen up in the mountains... oftentimes it’s not so above board.”
• International solidarity: France, Italy, Germany offer hospital space for burn victims.

2. Baltic Undersea Cable Sabotage: Hybrid Threats to Europe

[12:06 – 18:11]

Event Details

• Incident: Cargo vessel Fitberg intercepted for damaging Helsinki-Tallinn communications cable on New Year’s Eve.
• Petri Burtsoff (Helsinki correspondent) – [13:19]:
  “...this vessel, there’s photographic evidence that it actually had its anchor down and it was at the site of the damage when the damage happened.”

Geopolitical Context

• Shadow fleet of Russia-linked vessels evading sanctions, transporting banned goods.
• Fitberg was carrying sanctioned steel ([15:21]).

Regional Effects & Preparedness

• No major communication disruption: traffic rerouted ([16:22]).
• Petri:
  “It’s all about deterrence and it’s about showing that you react fast and you investigate fast.”
• Legal/jurisdictional hurdles: hard to prosecute when sabotage is outside territorial waters.

3. Review of the European Press: Iran, Greenland, and US Shifts

[19:09 – 28:28]

Iran: Economic Crisis Fuels Protests

• Currency collapse sparks rare, nationwide protests among traders; crackdown leaves 6 dead ([19:13]).
• Vincent McEviney (Political reporter):
  “This is going to affect everyone in the country... not like the sort of women’s rights, students protests.”

Denmark-Greenland-US Tensions

• Trump administration appoints a special envoy for Greenland, alarming Denmark. Both PM and King directly address issue in New Year’s speeches.
• Vincent:
  “At first it’s like... kite flying. I’m going to take over the Kennedy Center ha ha ha... now they’re taking it incredibly seriously.” ([22:09])

New York City: Leftward Turn

• Zoran Mamdani, a 34-year-old Democratic Socialist, inaugurated as NYC mayor amid hope and skepticism.
• Key agenda: wage increases, universal childcare, bold public housing.
• Seen as a “litmus test” for Democrats’ future direction ([24:19]).
• Vincent:
  “It is whether or not he can in the US system do these things that in Europe might seem normal, in America have become increasingly alien...”

UK: The Dangers of AI-driven Fake Events

• Birmingham tricked by AI-spread fake news of New Year’s fireworks; thousands show up for imaginary events ([26:51]).
• Analysis of public safety risk:
  “When you get hundreds and thousands of people descending on a location for a fake event... it can put pressure on local resources, on transport.” ([28:00])

4. Global News Rundown

[28:28 – 30:26]

• Russia and Ukraine escalate attacks as US-led diplomatic pressure intensifies.
• Iran’s protests intensify.
• NYC’s Mamdani promises Democratic Socialist reforms.

5. Lessons from Croatia’s Euro Adoption (For Bulgaria)

[30:32 – 35:54]

Inflation & Consumer Backlash

• Inflation doubled the eurozone average post-adoption, driven by tourism and possible price manipulation pre-euro.
• Guy Delaunay (Balkans correspondent):
  “Some retailers were sneaking in price rises deliberately ahead of the euro’s adoption.”
• Widespread “not buying” protests and strike tactics led to more government-regulated essential product baskets ([31:42]).

Benefits

• Elimination of currency conversion saves €160 million annually.
• Seamless travel and business; downside is loss of traditional currency exchange services.
• Coffee price almost doubles post-euro – a social complaint:
  Guy – [35:15]:
  “For a country that loves nothing more... than to sit at a pavement cafe and put the world to rights, or more likely just moan... this is being treated as a national disgrace.”

6. Turkey’s State Ambitions: Finance and Space

[35:54 – 40:09]

Zirat Bank in Syria

• Turkish state bank expands to war-torn Syria, aiming to reintegrate it into global finance ([36:34]).
• Shift from cash economy; potential reopening of international channels.

Somalia Spaceport

• Turkey to build African spaceport in Somalia, capitalizing on geography and deep bilateral ties.
• Hannah Lucinda Smith (Istanbul correspondent):
  “Somalia is... probably the best place for space exploration... close to the equator and the Indian Ocean.”
• Also symbol of Ankara’s strengthening military-diplomatic relationship with Somalia ([37:53]).

Climate Note: Snow in Turkey

• Festive mood as rare snow arrives before New Year in Turkey, relieving drought fears ([39:13]).

Notable Quotes

• Tyler Brûlé, on the Swiss fire:
  “It’s a real moment here... a country close to our hearts... a dichotomy between the coziness and what happens in Alpine regions and... mass mobilization that we saw yesterday.” ([02:51])

• Vincent McEviney, on Iran protests:
  “This is so mass, you know, it’ll affect everyone in the country that they might finally tire and have enough.” ([21:48])

• Guy Delaunay, on Croatia’s euro switch:
  “In the kuna era, your typical brew would cost you 10 kuna, about €1.30. Now you’re likely to be paying up to €2.50 for a coffee... this is being treated as a national disgrace.” ([35:15])

• Hannah Lucinda Smith, on Turkey’s Somali spaceport:
  “Somalia... probably the best place for space exploration... Turkey’s biggest overseas military base is in Mogadishu.” ([37:53])

Timestamps for Key Segments

• [01:40] Swiss ski resort fire report and analysis
• [12:06] Baltic undersea cable, Russian ‘shadow fleet’ discussion
• [19:09] Review of the European front pages: Iran protests, Greenland, US politics
• [30:32] Croatia’s euro experience and advice for Bulgaria
• [35:54] Turkey’s financial expansion, Somalia spaceport, festive snow

Final Thoughts

This premiere 2026 episode exemplifies Monocle’s global lens—probing tragedy and resilience, geopolitical risks, and ripples of economic and political change. Engaging correspondents and editorial voices offer not just updates, but nuanced context and the human stories behind the headlines.