In brief
In a recent address, President Emmanuel Macron emphasized the necessity for Europe to act decisively as a global power amid rising threats from nations like China and Russia. Ahead of an EU summit, he highlighted the need for mutual economic efforts, including eurobonds for future investments, to bolster the continent’s role in defense, security, and innovation. Macron's call comes at a time when traditional security assurances from the US are in question, advocating for a united Europe to face the evolving world landscape effectively.
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 stated ahead of an upcoming EU summit in Brussels.
Macron reiterated his call for EU-wide mutualised loans to raise billions needed for industrial investment, advocating for a shared debt capacity, or eurobonds, to fund future expenses and major European programmes.
Although he acknowledged past skepticism from countries like Germany regarding financial burdens shared with France, he argued that there is increasing demand for mutualised European debt in the global financial markets.
Highlighting the challenges facing Europe, Macron remarked, Today, we Europeans are on our own. But we have each other. We are 450 million people. It's huge. For me, [becoming a power] is the fulfilment of the European adventure.
He underscored the need for Europe to protect vital industries, comparing the EU's open market to the more protectionist approaches of China and the US and advocating for coherent policies that support European producers.
As he concluded his address, he aptly stated, Today Europe faces a massive challenge, in a world of disorder, urging immediate and unified action from the continent's leaders.
