The impact of current geopolitical events on the European economy

A panel discussion at the 14th Limassol Economic Forum, entitled “The State of European Economy”, looked at the impact of current geopolitical events on the European economy, the major issues and challenges facing the policy makers, the problem of inflation as well as prospects for growth and job creation

Moderated by Constantinos Petrides, Former Minister of Finance, the panel was joined by Michiel Hoogeveen, Vice - Chair of the European Parliament’s Committee on Economic and Monetary Affairs, and Kevin Featherstone, Professorial Research Fellow and Director of the Hellenic Observatory European Institute at LSE UK.

Kevin Featherstone spoke of a complex global environment, where democracy is in crisis and under threat from other elements. He referred specifically to the political unrest in the USA, saying we are living in an unstable and unpredictable era.

In the EU, unity is a difficult topic, he added, referring to the “Russia factor” as well as a resurgence of imperialism.

In closing, Featherstone said unity in the EU was a complex issue and that the EU’s targets include finding ways to stabilise cooperation at a time when deglobalisation is impacting on countries domestically.

Hoogeveen, in turn, said the EU member states need to come together, as they find themselves in a unique position historically. He said the member states need to find the courage to admit any weaknesses they may have with their diplomatic and commercial ties with China.

He added that we mustn’t follow the policy of “more government”, nor of “more Europe”, and referred to current crippling bureaucracy. Instead, he said, we must take advantage of organisations that can have a positive impact.

The Limassol Economic Forum is the biggest current affairs conference in Cyprus where business leaders, government officials, diplomats and academics discuss global issues on the economy, international relations, energy, investing, technology and entrepreneurship.

It is addressed to business leaders and decision makers such Board Members, CEOs, Managing Directors, and other senior management executives from all the major corporations in Cyprus and abroad. The Forum also as a rule welcomes politicians, diplomats, other government officials, but also entrepreneurs, academics, and other international experts on political and economic issues.

The 14th Limassol Economic Forum is taking place at City of Dreams Mediterranean, Limassol. It has been organised by IMH and INBusiness Magazine, with the support of EKO, the Cyprus Shipping Chamber, and Limassol Chamber of Commerce & Industry. CBN, GOLD Magazine, and ALPHA Cyprus are communication sponsors.