Visiting Professor of Economics & Resident Faculty, Minda de Gunzburg Center for European Studies, Harvard University; Member of the Executive Board, German Bundesbank (2002-2012)
May 3, 2022
12:00pm - 1:15pm
Russia’s attack on Ukraine has entailed atrocities unseen for a long time, at least in Europe. It has led to a fundamental reassessment of Europe’s security policies, including energy security. Putin’s war also seems to spell another Zeitenwende: the end of the "German" model of an open economy, deeply integrated into long, globe-crossing, value-chains that are structured according to the principle of comparative advantage. This model, the lodestar of many European economies, had already come under stress during the Covid-19 pandemic when disrupted supply chains made many firms think about reshoring. In addition, at the level of national politics, concepts of “strategic autonomy” gained in importance both in Europe and the United States. Less globalization, more segmentation seems inevitable – a particular challenge for Europe’s small, open economies.
Our expert panel will address key questions to address the challenges ahead. How can Europe adapt to the new context? What does reshoring imply? What could strategic autonomy mean? Where is the nation state and where is Europe in this landscape?