Consequences of the War in Ukraine and Economic Policy Options
Online
MED Special: War in Ukraine
In light ofcurrent events, Prof. Clemens Fuest will give an impromptu lecture outside the MED series "The Future of Digitalization - Catalyst or Obstacle Course for the German Economy and Society?". This will deal with the war in Ukraine and the resulting economic policy options for Germany, Europe, and the world.
War in Ukraine: What Does the Economic Policy Future Look Like?
Russia's invasion of Ukraine has forced Europe to fight back. In an unusual show of unity, EU member states imposed drastic sanctions on companies and individuals in Russia, designed to cut the country off from trade and financial flows. In addition, member states – led by Germany – plan to invest significantly more in their defense.
These measures do not go far enough for many. For example, oil and gas imports from Russia have so far been largely excluded from the sanctions catalog. We have to ask ourselves the questions:
- How dependent are we on these imports?
- Do we have any options for dispensing with these supplies completely?
- What does this mean for inflation? How do we finance the additional defense spending?
- What measures can we take against the massive price increases that are expected?
- What does the war mean for other markets – such as the global supply of grain?
General Information on the Presentation
The presentation will be held in German and takes place as an online event.