Diplomacy and International Politics

The following is an event write-up about the recent Future of Diplomacy Project (FDP) seminar on “The Future of Ukraine: Reconstruction, Energy Security, and Innovation” moderated by Ambassador Paula J. Dobriansky, Senior Fellow with the Future of Diplomacy Project. 

Most public discussion this winter reflects a conviction that Ukraine must — and can — win a decisive victory. But what constitutes a win against a country such as Russia? As we consider the road ahead, we cannot escape the brute fact that Putin commands an arsenal of roughly 6,000 nuclear weapons that could kill us all.

On March 31,  the Project on Europe and the Transatlantic Relationship and the Minda de Gunzburg Center for European Studies hosted a discussion with Wolfgang Ischinger, former Chairman of the Munich Security Conference, Joseph S. Nye Jr., Harvard University Distinguished Service Professor, and Daniela Schwarzer, Executive Director for Europe and Eurasia at the Open Society Foundations, on how Russia’s invasion of Ukraine as well as the brutality of its action has caused an unexpected reversal of Germany’s long time security policy and led to strong reactions in the rest of Europe, NATO, and the posture of the Biden administration. The seminar examined the dimensions and consequences of these developments for the future of the EU and the West. Karl Kaiser, Senior Fellow at the Project on Europe, moderated.

The recent ruling of the German Constitutional Court on the ECB was an economic and political bombshell. The deep controversy that resulted – within Germany and on a European scale – illustrates that the ambiguity surrounding the euro area’s legal order and architecture may have reached its limit.

Michael Greenwald writes that with the recent change of leadership at the European Central Bank, the euro likely has a bright future ahead.

Washington should adjust its coercive economic strategy to reflect a broader use of tools beyond sanctions. Given the degree of political interference in China’s banking system via formal state ownership and the indirect influence of opaque party committees, penalties imposed against the country’s banks are unlikely to produce a meaningful change in behavior.

Like with the Soviet Union, America once again finds itself in a global competition with Beijing today, albeit with many more consequences for Washington’s financial statecraft.

As part of the Project on Europe and the Transatlantic Relationship’s (PETR) event series, Ambassador Romana Vlahutin, Ambassador at Large for Connectivity in the European External Action Service, addressed the EU’s new Connectivity Strategy in conversation with Philippe Le Corre, PETR affiliate and senior fellow with Harvard Kennedy School's Mossavar-Rahmani Center on Business and Government at the Harvard Kennedy School.