The past twenty-four hours will be remembered as one of those pivotal moments—discreet in form, seismic in substance—where a conflict that threatened to ignite the global economy finds, not its solution, but a truce.

The nuclear program and ballistic missiles are excluded from the proposed memorandum that is to be approved.

The day begins under the shadow of a word that should be handled with the utmost caution: "agreement."

Rarely does a single day so starkly portray the era I have been describing in these reports—that of "wars of variable temperature" and the contained systemic fracture—:

June 10, 2026—the 103rd day of the war—dawns with the chessboard of the Middle East conflict expanding southward and, above all, toward the sea.

June 9, 2026 dawns with a constellation of crises that demand analytical clarity and moral firmness in equal measure.

On June 8, 2026, the stark reality of the situation brooks no euphemisms.

Global geopolitical stability is once again hanging in the balance. Just a few hours after analysing the risks of a false end to the conflict, the reality on the ground has confirmed the worst fears.

The Iran-Contra conflict has not yet ended, and therefore there is no victor. Peace is not coming, only its cold and intermittent administration.

The world wakes up today in that condition I have been describing for months: that of several wars of varying intensity .

The war that began on February 28 against the jihadist oligarchy in Tehran has entered its negotiated phase without having concluded—and it does so with the unsettling fact that the guns have not fallen silent while the emissaries speak.

The events of June 2nd and 3rd, 2026, marked a dangerous convergence of fronts.