Former U.S. Ambassador to the European Union Rockwell Schnabel (GNLA)

October 07, 2009, 6:00pm

Summary:

Very special thank you to Ambassador Schnabel.

Detail:

Trade, regulations, and currency between the US and EU are always changing. On October 7, 2009 the new West Hollywood hot-spot, Italian eatery Cecconis', hosted Gen Next Members and special guests for an intimate roundtable discussion with Former U.S. Ambassador to the European Union Rockwell Schnabel.

The Ambassador began his remarks by giving a candid personal history of how he came to be Ambassador to the EU, “I initially really wanted the Ambassadorship to Italy, but the President had other plans.” Ambassador Schnabel explained, “For the first time in our American history Western Civilization as a whole has had to face the true economic threat from other parts of the world. Even though the United States and Europe have very different approaches to political conditions and markets we need to work together and continue to have a strong relationship”. There are millions of U.S. jobs directly relating to Europe, and both Europe and the US rely heavily on one another’s exports and imports. The Ambassador also spent some time talking about public debt levels and dollar weakness. Schnabel reminds us that we cannot inflate our way out of recession. The current state of the dollar is in danger, “In five years, there is a 75% chance there will be an upheaval of the dollar!”

We elaborated on solutions and how best to restore and ensure country's competitive advantage. Gen Next was honored to host such an insightful and experienced global finance expert.