On Thursday, March 8, 2012, the German Marshall Fund of the United States (GMF) was proud to celebrate the fifth anniversary of the Young Transatlantic Network (YTN) with a reception in Brussels, in cooperation with the U.S. Mission to the EU. YTN was created five years ago with the support of the U.S. Mission to the EU as a platform for young professionals in the world of politics, business, and ideas, to meet with senior opinion and decision makers. The regular, informal events have served to provide the next generation of leaders with a deeper understanding of the issues at stake in transatlantic relations. At present, YTN has over 300 active members in Brussels and new chapters have recently been launched in Berlin and, soon, in Warsaw.

The keynote speech was delivered by William E. Kennard, the U.S. Ambassador to the EU, whose words were characterized by a high level of optimism for the transatlantic relationship. The ambassador underlined the American commitment to the transatlantic partnership, since “Europe is the cornerstone for engaging the rest of the world,” such as China and Syria. At a time when new models challenge standing principles, the ambassador stressed that “it is important for the United States and the EU to embrace the architecture we have built” and together protect the transatlantic model of globalization, open markets, and political transparency.

In this “silly season” of election fever, with American voters worried about their economic security, American rhetoric about the EU and the Eurozone debt crisis tends to carry a negative tone. For Europeans too, the sovereign debt crisis, and the underlying political shortcomings, raises questions regarding the EU’s ability to deliver. Given that the European project began in the aftermath of WWII, Ambassador Kennard emphasized it is important to use the current turmoil as an opportunity to reorient the European project, reiterating his confidence in the EU’s ability to overcome this troubled period.

The ambassador praised the EU as it is today and stressed the EU holds much promise for the future. The new narrative for transatlantic affairs is fundamentally economic, he said, and the EU and the United States should strengthen their cooperation to spur economic growth and create jobs.

Ambassador Kennard’s speech was well received by the audience, and the young professionals especially appreciated the spontaneous Q&A session during which the ambassador addressed some of their concerns. Attendance was high, with some 100 young representatives from the EU institutions, national representations, and the private sector.