The relationship between the United States and Europe is often portrayed as a partnership of equals. But has Europe instead become subordinate to American financial, political and military power?

In this interview, German left-wing intellectual Werner Rügemer examines the historical foundations of U.S. dominance over Europe, drawing on his book Fatal Friendship: How the USA Conquered Europe.

The conversation explores Wall Street’s role in reshaping Europe after the world wars, the growing influence of firms like BlackRock and Vanguard over European capitalism, NATO and EU expansion, the confrontation with China, and the deeper crisis of the transatlantic order. At a moment of intensifying geopolitical conflict and economic instability, this discussion asks whether Europe still acts in its own interests or increasingly in Washingto ...