Carl Bildt, former Prime Minister and Foreign Minister of Sweden, is joined by Ian Bremmer, president of Eurasia Group and GZERO Media, to provide perspective on the Ukraine crisis at the Munich Security Conference.

Carl Bildt: This is the most dramatic conference that I think every one of us has experienced. I mean, there seems to be significant probability of war breaking out in Europe within days. We have the Ukraine president, we'll see if he will come during the day, but we have an assortment of European leaders and vice president of the United States. And everyone is discussing, can anything more be done to prevent war? And what really do we do if it breaks out?

Ian Bremmer: And it's kind of funny. The theme of the conference this year is helplessness. And when I flew in, I'm like, "That's a horrible theme for the conference." But actually, as it plays out, it's starting to feel a little bit more on target.