Consuls: Europe Bustling, Not Broken

As they took the stage, they also took the bait on the provocative title.

European consuls general couldn’t resist defending the continent’s economy — and those of their particular countries — during a panel designed to provide a comprehensive snapshot of opportunities across the pond.

Hosted by a slew of service providers led by Atlanta’s Frazier & Deeter and Arnall Golden Gregory LLP and their European partners, the annual Springboard to Europe event in late October is aimed mostly toward helping local companies evaluate outbound investment opportunities and find the resources to seize them.

To set the stage, and perhaps to stir the pot, the first panel posed the question to seven assembled diplomats whose countries are dealing with political challenges, a war in Ukraine and threats to EU unity: “Is Europe broken?”

Perhaps predictably for diplomats, they answered in the negative.

Dutch Consul General Jaap Veerman, who kicked off the panel, said while Europe is dealing with some stress tests, it’s holding together remarkably well.

“Is Europe broken? I don’t think so. Is Europe redefining its strategy and goals? I think yes — to more sustainability, to more innovation, to stronger partnerships, and that’s what we do with our colleagues from the European Union but also, of course, with our U.K. friends,” Mr. Veerman said with a nod to fellow panelists and British Consul General Rachel Galloway.

To Irish Consul General Caoimhe Ni Chonchuir, perhaps the most strident defender of the EU on the panel, the “extraordinary cohesion” shown by the bloc during the COVID-19 pandemic has been repeated in the face of Russia’s invasion of Ukraine.

“It shows that when Europe is put to the test, it can stand firm and united,” she said, calling the framing of the discussion “helpfully provocative.”

Austrian Honorary Consul Paul Seefreid pointed out that the country of 9 million has seen economic output reduced as inflation has risen, partly due to the cut-off of Russian oil and gas.

But most panelists agreed that not only would the conflict accelerate the march toward renewables (or at least alternatives), but has also shown European resiliency and resolve.

Even neutral Switzerland signed on to the EU’s Russia sanctions, arguing that it could assist with their imposition while remaining militarily neutral in the conflict, said Swiss Consul General Urs Broennimann.

The energy transition was seen as an opportunity, with the Netherlands and Germany focusing on green hydrogen, the U.K. on joint research on batteries and others on solar and wind.

Asked about threats to European democracy, Belgian Consul General Michel Gerebtzoff said that Europe is built on compromise and that the election of euro-skeptics across a few countries is not a threat to a bloc used to finding “majority, not unanimity” when it comes to policy issues.

“I remain really optimistic. We’ve been there before. We’ve had countries with difficult political configurations, let’s say, in the past, and because of the democratic process in Europe, it enables us to absorb those kinds of difficulties much better than some other systems.”

He also argued that some of the geopolitical strife that perhaps gave rise to the question is working in favor of the transatlantic relationship as the world sees the “return of politics in trade.”

“It is now more difficult than it was a few years ago to totally ignore the political situation, political imperatives. We see that reflected in export controls and the screening of investment, both inbound and outbound,” he said. “As friends and allies, of course, the U.S. and the EU stand to benefit from that and need to work even harder together.”

No one, meanwhile, was asked to directly address U.S. clean-energy and chip subsidies that have rankled European partners and in some cases brought on retaliatory measures.

The main thrust of the conversation consisted of the “elevator pitches” for each country, views on opportunities beyond their capitals, and their investment ties to the Southeast U.S.

French Consul General Anne-Laure Desjonqueres said her country’s imprint on the Southeast is growing in multiple arenas, from the Airbus factory in Alabama to the “La French Tech” designation that has helped bring companies like warehouse robotics unicorn Exotec to Atlanta.

More can be done if a lingering “problem of familiarization” can be fixed, giving Europeans a better sense for what is happening in the country’s fastest-growing region, Ms. Galloway of the United Kingdom.

Sports and creative industries can lead the way, she said, noting how English Premier League matches in Atlanta and an Atlanta Falcons football game in London were opening doors of understanding. The 2026 World Cup coming to Atlanta is a huge opportunity to tell that story.

“We’ve got until 2026 now to really take advantage of the fact that people are going to be hearing about this region,” Ms. Galloway said.

Melanie Moltmann, the German consul general, said hundreds of German companies continue to avail themselves of advantages of the South, with its pro-business policies.

“The conditions here for foreign companies to come here are very favorable,” she said, also pointing to Germany’s expertise across digitalization in manufacturing, energy and more.

Moderator John Woodward, vice president of global commerce at the Metro Atlanta Chamber, said finding synergies is the name of the game as Atlanta continues its outreach to Europe — a perennial top source of foreign investment despite some of the countries’ relatively small populations. While the U.K.’s creation of 2.7 million jobs in the U.S. may be well known, it’s less evident that Ireland, a country of 5 million, is the No. 8 investor nation here, or that Switzerland, with the same population as Georgia, counts the U.S. its top export market.

Cheese and chocolate are “overrated” as a proportion of Swiss trade with the U.S., Mr. Broennimann said, representing only 3 percent of its value. Machinery and transportation equipment are much more commonly reflected in the numbers.

Belgium and bio, Ireland and fintech, Germany and cars — Atlanta has a way of working with all, Mr. Woodward said.

“When I look at trade and investment, I’m always trying to look for those parallels.”