European Growth and the Next Chapter in US-EU Relations

On January 26, the Atlantic Council’s EuroGrowth Initiative hosted a public panel discussion on the future of US-EU relations at the start of the Trump Administration. Ms. Ana Palacio (former Foreign Affairs Minister of Spain), Amb. C. Boyden Gray (former US Ambassador to the EU), Dr. Georgios Alogoskoufis (former Finance Minister of Greece), and Dr. Shekhar Aiyar (European department Deputy Chief, IMF) outlined the numerous challenges ahead. 

Key takeaways from the conversation are:

  • The discussion acknowledged the sharp rise of political discontent on both sides of the Atlantic, which must be addressed with renewed leadership.
  • Ana Palacio emphasized that “the idea of more Europe doesn’t sell anymore” and that Europe needs a better narrative, or it will encounter even greater difficulties in the future.
  • Amb. Boyden Gray stressed the excessive regulation and fragmentation of European markets, despite the EU’s goal of a unified single market.  He vowed for a renewed reform-minded effort, removing  remaining trans-border barriers and burdensome regulations.

Image: From left to right, Andrea Montanino, Director of the Global Business & Economics Program at the Atlantic Council, Ana Palacio, former Foreign Affairs Minister of Spain, Boyden C. Gray, former US Ambassador to the EU, Georgios Alogoskoufis, former Finance Minister of Greece and Shekhar Aiyar, European department Deputy Chief, IMF