Europe Amidst Uncertainty: Democracy, Geopolitics, and the Global Economy: 2. The Second Panel

Pyle Center AT&T Lounge
May 1, 2025 @ 1:00 pm - 6:15 pm

Co-sponsored by Jean Monnet European Union Center of Excellence for Populism and Political Economy, and Center for Germany & European Studies.

Europe and the European Union find themselves confronted with unprecedented turmoil and uncertainty. Russia’s illegal and unprovoked war in Ukraine rages on, with massive economic and security implications for Europe and deep uncertainty about its resolution. China’s rise continues to pose serious economic and political challenges, raising questions about the future of Europe’s trade, financial, and security policies. At home, far right and populist parties continue to attract significant popular support, transforming the landscape of European politics in Germany, France, Italy, Hungary, and nearly every other EU member-state and raising major questions about the future of democracy and European integration.

Above all, the very foundations of the postwar international and transatlantic order are now under threat. For eight decades, close economic and ironclad military cooperation between the US and its NATO allies has been the centerpiece of European and transatlantic security and prosperity. Now, Europe finds itself an unwilling participant in a US-EU trade war and wondering whether the US remains fully committed to NATO and Article 5. EU and European leaders are now scrambling to increase defense spending and find a path forward in a world where the US is no longer be a reliable ally and partner in international economic, security, and political cooperation.

The second panel: The European Union and the Euro in the Global Economy

How are current developments in the global economy affecting Europe? How should the European Union and its members respond to Donald Trump’s tariffs and the threat of a global trade war? To what extent does the United States’ embrace of tariffs and economic nationalism present Europe with an opportunity to assume a greater leadership role in global economic governance? What are the monetary, financial, and trade consequences of the Russia-Ukraine war for the EU? What does all of this mean for European Monetary Union and the euro’s role in the global financial system?

Panelists:

• Menzie Chinn, Professor of Public Affairs and Economics, University of Wisconsin-Madison
• Manuela Moschella, Professor of Political Science, University of Bologna & Adjunct Professor, Johns Hopkins University SAIS-Europe
• Mark Copelovitch, Professor of Political Science and Public Affairs, University of Wisconsin-Madison
• Chair: Jon Pevehouse, Professor of Political Science, University of Wisconsin-Madison