"Since the reports written by Mario Draghi and Enrico Letta were published, China has accelerated enormously. Today, it has a surplus with the rest of the world of €1 trillion. Europe must decide whether to become a power. If we were to remain a market open to the four winds, we would be swept away."

French President Emmanuel Macron said this in an interview with seven European newspapers.

According to Macron, "Europe is effectively the adjusting factor for the rest of the world. The question is whether we are capable of becoming a power, economically, financially, militarily, and even democratically."

The French president also outlined his four objectives for Europe's revitalization : "First of all," Macron said, "the simplification and completion of the single market. Second, trade diversification and de-risking the dependencies accumulated over the years. This involves," he explained, "rebuilding European capabilities, for example, promoting the internationalization of the euro's role, introducing, among other things, the digital euro, or developing euro-denominated stablecoins."

"Thirdly," the head of the Elysée continued, "we must promote European preference. I'm thinking of safeguard clauses in the steel sector. Having a European focus in European sectors, from automotive to chemicals, from steel to defense."

"Finally," Macron concludes, "we must invest in innovation. We are focusing on simplification and diversification. Many forget the European preference and the need for European investment."

(Unioneonline)

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