French President Emmanuel Macron has urged Europe to assert itself on the world stage, saying it is time to start acting like a power. In the face of growing threats from China, Russia, and now the US, he told a group of European newspapers that the continent faced a wake-up call. Are we ready to become a power? This is the question in the field of economy and finance, in defence and security, and in our democratic systems. In another era, we might have said it is the moment to 'assume our majority', he said ahead of an EU summit in Brussels later this week.
Macron repeated his call for EU-wide mutualised loans in order to raise hundreds of billions of euros needed for industrial investment. The time has come to launch a shared debt capacity to fund our future expense - eurobonds for the future. We need big European programmes to finance the best projects, he said.
The French leader's emphasis on mutualised debt has previously met scepticism from countries like Germany, who feel that France is attempting to shift financial burdens onto Europe due to its own economic shortcomings. Macron acknowledged that France must reform, pointing out that the country has not had a balanced economic model like some northern European economies.
As climate change accelerates and global politics shift, Macron articulated the pressing need for Europe to protect its industries just as China and the US do. Today Europe faces a massive challenge, in a world of disorder, he stated, highlighting the necessity for Europe to become cohesive in its approach to global economic competition.
He concluded by reinforcing that, even among 450 million Europeans, unity is essential: For me, [becoming a power] is the fulfilment of the European adventure.\
Macron repeated his call for EU-wide mutualised loans in order to raise hundreds of billions of euros needed for industrial investment. The time has come to launch a shared debt capacity to fund our future expense - eurobonds for the future. We need big European programmes to finance the best projects, he said.
The French leader's emphasis on mutualised debt has previously met scepticism from countries like Germany, who feel that France is attempting to shift financial burdens onto Europe due to its own economic shortcomings. Macron acknowledged that France must reform, pointing out that the country has not had a balanced economic model like some northern European economies.
As climate change accelerates and global politics shift, Macron articulated the pressing need for Europe to protect its industries just as China and the US do. Today Europe faces a massive challenge, in a world of disorder, he stated, highlighting the necessity for Europe to become cohesive in its approach to global economic competition.
He concluded by reinforcing that, even among 450 million Europeans, unity is essential: For me, [becoming a power] is the fulfilment of the European adventure.\
