Page 12 - CSA Speaker Bulletin January 2017

Page 12 - CSA Speaker Bulletin January 2017 | CSA Celebrity Speakers

P. 12

EUROPE IN 2017

Is Europe set for
turmoil in 2017?

Paolo Scaroni is vice chairman to the migrant crisis. The only way positive for Europe, for two reasons.
at NM Rothschild & Sons and a to tackle these challenges effectively
non-executive director of Veolia, is through ever closer cooperation Russia is key to the European
as well as being on the Board of and centralised policies. Without the economy because it supplies around
Overseers of Columbia Business UK, which was so profoundly split 40% of our natural gas. A constructive
School. over ceding sovereignty, dragging its relationship with Russia is therefore a
feet at every corner, the other core necessity if we are to have access to
The New Year may be off to a European countries have a real chance the energy we need, when we need
chilly start for Europe, given to pull themselves together and it, and potentially even at the prices
the three cold showers which collectively tackle issues that affect which allow us to compete on the
shocked the established order in 2016. us all. global playing field. And Russia is not
First came Brexit, then the election of just a key economic ally for Europe.
Donald Trump in the USA, and lastly Second, Trump. What his presidency It is also a key political ally. Russia
the Italian “no” vote in the recent will look like is a riddle of conflicting is aligned with the west in the fight
referendum, which cost us our Prime and unsettling signals. But there is at against the religious extremism
Minister. What these three shocks least one encouraging trend emerging which has destabilised vast
have in common, of course, is that from the fog, and that is that Mr swathes of the Middle East and
they are evidence of a wide-ranging Trump may seek a more pragmatic, North Africa. A cooperative
rebirth of populism. And this doesn’t and less ideologically-driven relationship is therefore an important
bode well for a Europe which is still relationship with Russia, supporting pillar of any effective strategy to
sorting out the aftermath of the 2008 its return to the global round-table. eradicate Isis and address many
financial crisis, and which faces key And that, too, could be a major of the issues destabilising Europe,
elections in France and Germany in
the new year.

But on all these fronts, there are
reasons for optimism which are often
overlooked.

First, Brexit. Yes, it was a nasty
surprise for Europe. And yes, the
UK brought an important pragmatic,
liberal voice to the European debate
which will be sorely missed. But the
exit of the UK from Europe is also
an opportunity. The EU faces once-
in-a-lifetime challenges, in terms of
its financial system, its relationship
with its neighbours and its attitude

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