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. 

There are a number of important issues on the transatlantic agenda. And, yet the relevance of the partnership between the United States and Germany has been called into question in recent years. From defense spending and the proposed U.S. military drawdown, to transatlantic trade and investment, to relations with other countries such as China and Russia, the German-American relationship has been charged. With the German presidency of the European Council, what can we expect for the transatlantic relationship in the months and years to come?On Tuesday, August 11, the ACG hosted a webinar with Congressman Rob Bishop (R-UT), Senior Member of House Committee on Armed Services, and Bundestag Member Dr. Tobias Lindner (Die Grüne), Spokesman for Security Policy, Chairman of the Defense Committee; and moderated by Cathryn Clüver Ashbrook, Executive Director of the Future of Diplomacy Project and Executive Director of The Project on Europe and the Transatlantic Relationship at the Harvard Kennedy School and Co-Director of the ACG’s Eric M. Warburg Chapter in Boston.

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.