Name? Olaf Scholz
Westphalian identity? German
Age? 64
Why is he in the news? The 48th G7 Summit wrapped up today and its host, German Chancellor Olaf Scholz delivered the closing remarks, declaring an increased effort to stand against Putin’s war in Ukraine. World leaders debated strategies to increase the political and economic cost of the invasion for Putin, whilst also agreeing to a $600 billion initiative to counter China’s Belt and Road initiative.
Why do we care? Scholz has demonstrated a more assertive posture towards the Ukraine invasion this week, something he has been criticised for not doing in the past. While remaining reluctant to a proposed price cap on Russian oil, the chancellor has outlined an international reconstruction plan for Ukraine. Scholz emphasised the need for a European ‘Marshall Plan’ and called on the long-term cooperation of the forum. As host, Scholz is putting a decisive foot forward, hoping to offer aid that is more than a symbolic show of solidarity.
Why should you care? Scholz invited Senegal, Argentina, India, Indonesia and South Africa as partner nations as the summit also addressed the economic fallout of Western sanctions on Russia. The agreed upon $600 billion pledge is designed to lessen the impact of Chinese soft power. So far we cannot say whether this is just a new name for US President Biden’s build back better initiative or an actual additional 600 billion spent, you should care 7/10.
Who else cares? Ukrainian President Volodymyr Zelenskyy. Joining the summit virtually, Zelenskyy described the increasing frequency of Russian airstrikes and the need for air defence systems in Ukrainian cities, a request U.S. President Joe Biden will grant with upcoming care packages from Washington.
Any further comments? With Scholz confirming all parties’ attendance of the next G20 summit, the intensifying G7 action against Russia will likely lead to a few awkward moments in Indonesia next November, and we are not talking about awkward group photos.
