The Euro and Europe's Future
The current crisis in the eurozone—arguably the most difficult test Europe has faced in the past sixty years—has exposed serious structural and macroeconomic challenges and poses a critical risk to worldwide economic recovery. Moreover, the crisis has altered how the world views Europe, prompting questions about the future of the monetary union and the fate of the European Union (EU).
On January 20, the Center on the United States and Europe at Brookings (CUSE) hosted Germany’s Foreign Minister Guido Westerwelle for an address on the future of Europe in a globalized world. In his remarks, the foreign minister made the case that the EU has what it takes to emerge from the sovereign debt crisis as one of the world’s shaping powers. He also argued that Europe and the United States must continue to develop their strategic partnership. Westerwelle has served as Germany’s federal minister for foreign affairs since October 2009. He has been a member of the German Bundestag since February 1996, serving as the national chairman of the Free Democratic Party of Germany until May 2011. Brookings Senior Fellow Fiona Hill, director of CUSE, provided introductory remarks and moderated the discussion.
After the program, Foreign Minister Westerwelle took audience questions.