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Last month, on the eve of the invasion of Ukraine, Putin made a thinly-veiled threat to the West if they tried to stop him. After recent Russian war games that included the eventuality of nuclear war and as some European nations stockpile iodine pills, would Vladimir Putin really dare to go where neither side went during the Cold War?
Wait for it, warns the US president. Joe Biden tells business leaders that they had better shore up their defenses. Most vulnerable are corporations and in particular the international banking system. Could cyberspace be where World War III starts? Or did it start virtually long ago?
Of all the deadly strikes carried out by Russia so far: the bombing of a maternity hospital in Mariupol earlier this week has perhaps sparked the most international outrage, as well as charges of a possible war crime. At least three people, including a child, were killed in the attack.
Wednesday's shelling of a children's hospital in Mariupol a reminder that the West has seen this movie before in Chechnya and Syria. Are chemical weapons next? If so, what are the EU's red lines? Like NATO, the European Union upping assistance to Ukraine while so far shying away from putting boots on the ground. The 27 still hope unprecedented sanctions will suffice alongside ever-increasing armament.
Beyond control of Ukrainian air space, there is the control of money flows, with a US-led push to cut credit and credit cards to Russia and now, Washington's call to cut imports of Russian oil and gas. It can't be done on a dime. Can Europeans do it all?
With Russian troops closing in on the capital of Ukraine, we ask our guests: just how many ordinary people in Russia are actually in favour of the war? How many realise what is happening, given the propaganda fed to them by the Russian media? If they knew the truth, could Vladimir Putin continue with this war?
The United States and its allies have made it clear that they will not send a single soldier to Ukraine, but are instead supplying the Ukrainian army with arms and have started to dial up sanctions. Sanctions, however, can pose one of two problems: They can be ineffective - see the 2014 measures against Moscow after its annexation of Crimea - or they can have a boomerang effect.
How much are insecurity and weak institutions on the continent a problem for all? Europeans insist they are trying to make it about more than just visas and stopping migrants from crossing the Mediterranean.