European Institute

Following the European Parliament’s recent initiatives to improve European-U.S. cooperation on data privacy and toward reaching an agreement on General Principles of Data Protection, a discussion was convened with a delegation of the European Parliament’s Committee on Civil Liberties, Justice and Home Affairs, headed by The Hon. Jonathan Evans, Chairman of the Delegation for Relations with the U.S. James Halpert, Partner at DLA Piper served as the moderator. Members of the delegation, including Frieda Brepoels, Patrick Gaubert, Luis Herrero-Tejedor, Sophie in’t Veld, Piia-Nora Kauppi, Berès Prevench and Baroness Sarah Ludford, expressed the need for stronger transatlantic dialogue on data protection, particularly their concerns about SWIFT and PNR information exchange within a common framework for the safeguard of personal information in an environment of heightened security. The U.S. perspective was presented by Peter Chase, Director, Office of European Union and Regional Affairs, U.S. Department of State and Matthew McCabe, Counsel, House Committee on Homeland Security. They expressed their belief that a solution can be found on oversight discussions, as the U.S. and EU share similar values.

Held on the occasion of the 50th anniversary of the Treaty of Rome, the seminar focused on ways to enhance transatlantic approaches towards energy security and emerging economies. The German Presidency’s initiatives in this were outlined by Johannes Haindl, Deputy Chief of Mission, Embassy of Federal Republic of Germany. H.E. Janusz Reiter, Ambassador of Poland to the United States, indicated that an external energy supply is forcing the EU to make choices in energy security issues. Kenneth A. Myers III, Senior Professional Staff Member, Senate Committee on Foreign Relations, opined that NATO has the most comprehensive approach towards energy policies. Matthew Bryza, Deputy Assistant Secretary, Bureau of European and Eurasian Affairs, U.S. Department of State, stressed public private partnerships in pipeline prospects, dependency on Russian energy, and gas flows from the Caspian Sea region into Europe. From an industry perspective, Tracey McMinn, Government Relations Advisor at Shell, gave an analysis of the energy demand and supply of emerging nations. The Hon. Andris Piebalgs, Commissioner for Energy, European Commission, highlighted the EU’s leadership on energy and climate policies, which can build an international consensus for combating climate change. As significant progress has been made during the Vienna E.U.-U.S. summit lasts year, there are more opportunities for transatlantic cooperation in the energy field. The discussion was moderated by Robert McNally, Managing Director of Tudor Investment Corporation.

The seminar addressed the implications and impact of an expanding Eurozone and global security concerns for financial markets and regulation. The Hon. Jean-Claude Trichet, President of the European Central Bank (ECB), commented on the process of financial integration in Europe and the economy’s potential for stronger non-inflationary economic growth. Odile Renaud-Basso, Secretary of the Economic and Financial Committee and the Economic Policy Committee for the European Commission discussed the prospects for reviving economic growth. Offering a U.S. perspective, Nova Daly, Deputy Assistant Secretary for Investment Security, U.S. Department of the Treasury, focused on foreign investment legislation, the role of the Committee on Foreign Investment in the United States (CFIUS), financial services regulation and negotiating with partners such as China and Europe. He noted the need for more open markets and regulatory reform. Frank Kelly, Managing Director and Head of Government Affairs, Deutsche Bank, indicated that there are new challenges for business as globalization impacts China, India and beyond. The U.S. needs to deal with issues of overlapping regulation for financial investments, changes of financial markets and costs of legislation. H.E. Claudia Fritsche, Ambassador of Liechtenstein discussed security concerns that have transformed international financial operations. The Hon. Yves Mersch, Governor of Central Bank of Luxembourg, touched on the global economic environment, the European perspective of the American housing market, the decoupling of the European market, the risks of international markets and the Euro zone. Angel Ubide, Director of Global Economics, Tudor Investment Corporation served as the moderator.

Following up on the roundtable with Nick Witney, Chief Executive of the European Defence Agency, this meeting focused on France’s acquisition policy and relations with the EDA. Lt. Gen. Patrick Auroy, Deputy National Armament Director of the Délégation Générale pour l’Armement (DGA), briefed participants on the French approach to a European Defense Industrial Base and the future of transatlantic cooperation. He outlined the major trends of the industrial policy in Europe, including using more competition and market forces, fostering cooperative programs, and giving visibility and a common reference through the publication of a clear European Defense Technology Industrial Base strategy. He also addressed the need to open the defense market and the challenges created by export controls. An open defense market, he said, will benefit all defense players with new levels of efficiency and economies of scale. Progress is needed on the intra-continental level since export is a major part of the industry. Subsequently, market forces need to be increased in order to have a globally competitive base. The Hon. William Greenwalt, Deputy Under Secretary of Defense for Industrial Policy offered a U.S. perspective.