Schroeder notes that we had more than 120 European companies in the field of shipbuilding, engineering, and environmental security who work or were previously associated with the project. Now in danger of being “European jobs”, which stand for each of these firms. According to the former Chancellor, the American bill is a “broad and unjustified attack on the European economy and an unacceptable encroachment on the sovereignty of the EU and energy security of Western Europe”.

“the Damage sanctions would have been huge. They threaten to bury investments in European infrastructure in the amount of 12 billion euros and to shoulder consumers from Europe additional financial burden of up to four billion dollars a year… Economic sanctions against NATO partners in the midst of the current economic recession is nothing like the conscious dissolution of the transatlantic partnership,” concludes Schroeder.