Business

French President Emmanuel Macron has called on Europe to take a stronger stance on the global stage, stating that it should start acting like a “power.” He highlighted that increasing threats from China, Russia, and the United States present a significant “wake-up call” for the continent. Speaking to a group of European newspapers, he asked, “Are we prepared to become a power?” This question pertains to areas such as the economy, finance, defense, security, and democratic systems. Macron made these remarks ahead of an EU summit scheduled in Brussels later this week. He reiterated his appeal for shared loans across the EU to generate the hundreds of billions of euros required for industrial investments. “The moment has arrived to create a collective debt capacity to support our future spending—eurobonds for the future. We need major European programs to fund the best projects,” he stated. In the past, similar proposals have faced doubt from Germany and other nations, as they worry that France seeks to shift financial burdens onto Europe due to its own lack of reform. Macron acknowledged that France “has never had a balanced economic model, unlike some northern economies that are more responsible.” He noted that France has not implemented reforms like those seen in Portugal, Spain, Italy, and Greece during the 2010s, which are now yielding positive results.