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, he stated ahead of an EU summit in Brussels.
Macron reiterated his call for EU-wide mutualized loans to raise billions needed for industrial investment and advocated for launching shared debt capacities to fund future expenses. He acknowledged that similar proposals had met skepticism in the past, particularly from Germany, which perceives them as a means for France to shift financial burdens onto other nations.
Despite this, Macron admitted that France's economy had not always been balanced and contrasted it with the reforms seen in southern European countries that have yielded positive outcomes.
He emphasized a growing demand for mutualized European debt in worldwide markets, especially as investors seek alternatives to the US dollar. Macron asserted that today's Europe must safeguard its vital industries and not impose stricter regulations on its own producers than are imposed on non-Europeans.
As the world evolves towards disorder, with increasing climate challenges and shifting power dynamics, Macron calls for a Europe that is coherent and united, capable of acting decisively in a complex global landscape.
In a powerful closing, he acknowledged that the 450 million Europeans hold significant potential and called for a realization of the European adventure toward becoming a global power.
