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 a context filled with threats from China, Russia, and the United States, he emphasized that this is a 'wake-up call' for the continent. '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. The remarks were made ahead of an EU summit in Brussels.
Macron advocated for EU-wide mutualised loans to raise the necessary funds for industrial investment, proposing eurobonds to finance significant European projects. Despite previous skepticism from nations like Germany regarding shared financial responsibilities, he highlighted the increasing market demand for such debt across Europe.
The French leader acknowledged France's economic challenges compared to more stable Northern economies and recognized the imperative need for reforms similar to those seen in Southern Europe in the past decade.
According to Macron, the European Union will require approximately €1.2 trillion annually to invest in crucial sectors such as security, clean energy, and artificial intelligence. He asserted, 'Europe today is the most open market in the world,' yet it needs to protect its industries against aggressive external competition.
Emphasizing the urgency of addressing climate change, security needs, and the shifting dynamics with traditional allies, Macron said, 'Today, we Europeans are on our own. But we have each other; we are 450 million people. It's huge.' He underscored the necessity for Europe to redefine its role as a collective power rather than merely an economic alliance.
Macron advocated for EU-wide mutualised loans to raise the necessary funds for industrial investment, proposing eurobonds to finance significant European projects. Despite previous skepticism from nations like Germany regarding shared financial responsibilities, he highlighted the increasing market demand for such debt across Europe.
The French leader acknowledged France's economic challenges compared to more stable Northern economies and recognized the imperative need for reforms similar to those seen in Southern Europe in the past decade.
According to Macron, the European Union will require approximately €1.2 trillion annually to invest in crucial sectors such as security, clean energy, and artificial intelligence. He asserted, 'Europe today is the most open market in the world,' yet it needs to protect its industries against aggressive external competition.
Emphasizing the urgency of addressing climate change, security needs, and the shifting dynamics with traditional allies, Macron said, 'Today, we Europeans are on our own. But we have each other; we are 450 million people. It's huge.' He underscored the necessity for Europe to redefine its role as a collective power rather than merely an economic alliance.
