The Roman Catholics have favored a 'preterist interpretation' which is essentially either historic (fulfilled in the past) or allegorical (spiritual meanings).
The Protestants have tended to stick to literal interpretations, but have focussed on the Vatican or Roman Catholicism as the Anti-Christ. For the last hundred years or so, the Middle East itself was either forgotten, downplayed or separated out as historical prophecy for the pre-Christian era.
Relatively recently however, Western Protestant Christians have had to recognize the literal fulfillment of some astounding prophecies, such as the re-establishment of a modern State of Israel, and the revival of radical Islam.
The solution to the new dilemma may be found in the previously unnoticed mention of TWO beasts in Revelation chapter 13.
Here we can present two recent but complimentary attempts at interpretation of the Revelation, one which focusses on the Vatican System, and the other which focusses on Islam and the Middle East:
First the Protestant take on the Vatican:
Now a Middle-Eastern view of the End Times: