- June 08, 2022
Among the economic consequences of Russia’s invasion of Ukraine are surging energy prices, supply chain disruptions, and increasing inflation. Europe’s economic recovery from the economic aftermath of the COVID-19 pandemic is therefore slowing. With households’ purchasing power declining throughout Europe, how should we deal with the rise in prices for energy and other commodities in the long term? How will the economic decoupling of the EU from Russia look like and what will be its consequences? Given the uncertainty surrounding the evolution of Russia’s war on Ukraine, what are the risks to economic forecasts? What will the economic future of Europe look like? To discuss these questions, among others, Aspen Germany and Aspen Italia hosted a virtual online conference entitled “War and the Economy: the Future of Europe” on Wednesday, June 08, 2022 from 1:00 p.m. to 3:00 p.m. CEST with opening remarks by Pier Carlo Padoan, Chairman of Unicredit and Italy’s Minister of Economy and Finance from 2014 to 2018, H.E. Viktor Elbling, Ambassador of the Federal Republic of Germany in Rome, H.E. Armando Varricchio, Ambassador of the Republic of Italy in Berlin, and H.E. Romano Prodi, Former Prime Minister of Italy and President of the European Commission. Subsequently, Dr. Katharina Gnath, Senior Project Manager at the Bertelsmann Foundation, Dr. Anke Hassel, Professor of Public Policy at the Hertie School, Co-Director at the Jacques Delors Centre, Silvia Merler, Head of ESG and Policy Research at Algebris Investments, and Aurelio Regina, Vice President of Confindustria, discussed the economic outlook in Europe and assessed the role of leading economies such as Italy and Germany.