The year since inauguration of the third Armenian President Serzh Sargsyan introduced some changes in foreign policy of the country, without changing at the same time the priority directions, stipulated in the Declaration of Independence of Armenia. And if summits were, to some extent, expected, two events were utterly significant both for Armenia and for the entire region.

The impact of the world financial crisis on the Armenian economy and social state of people has already become perceptible, especially in the population employment sector. The alarm has already sounded for a number of employment agencies: employers' offers are decreasing in ratio with the increasing labor supply.

The year of 2008 was also a time of reformatting the South Caucasus Region. After the «five-day» war of Georgia against South Ossetia it became clear that new division lines were to be outlined in the region. No doubt unwilling to do it himself, President of Georgia made a «regal» present to RF that had long been waiting for an opportunity to gain revenge against the USA for the too profound an interference it had in the solution of Caucasus problems. The result was a much more chaotic bedlam in which even the most «skillful» states were unable to "catch a fish".