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.
In anticipation of an upcoming EU summit in Brussels, Macron highlighted the need for EU-wide mutualised loans to raise funds for industrial investment, suggesting the creation of a shared debt capacity with eurobonds for major European projects.
Despite calls for financial solidarity, Macron acknowledged skepticism from nations like Germany, which view France's proposals as an attempt to shift fiscal responsibilities onto Europe due to its own economic challenges.
Macron noted that while France has not always maintained a balanced economic model compared to northern European nations, demand for mutualized European debt is on the rise in global financial markets. He pointed out the growing disenchantment with the US dollar and the need for democratic alternatives in a shifting world order.
Calling for a unified investment strategy to tackle crucial issues like security, clean energy, and artificial intelligence, he stressed that Europe's open-market stance should not come at the cost of its industries' competitiveness.
Today Europe faces a massive challenge, in a world of disorder, Macron declared, emphasizing that Europe, once reliant on the US and Russia for security and energy, must now depend on itself to forge a path as a significant global power.
