French President Emmanuel Macron has called on Europe to assert itself globally and begin acting like a true power, warning that rising pressure from China, Russia, and even the United States should serve as a wake-up call.
Ahead of an EU summit, he argued that Europe must strengthen its economic, financial, defence, security, and democratic capacities, reviving the idea of shared ambition and responsibility. Macron renewed his push for EU-wide mutualised loans, or future-focused eurobonds, to fund hundreds of billions of euros in industrial investment, despite scepticism from countries such as Germany.
While acknowledging France’s weaker reform record compared with some northern and southern European economies, he said global financial markets increasingly want alternatives to the US dollar and are drawn to Europe’s democratic rule of law. He estimated the EU needs €1.2tn annually to invest in defence, clean energy, and artificial intelligence, and urged Europe to protect its industries without becoming protectionist by applying fair and coherent rules.
Macron concluded that in a world marked by climate change, geopolitical disorder, and unreliable partners, Europeans must recognise their collective strength and not be lulled into complacency by temporary easing of tensions with Washington.
Macron at the recent World Economic Forum
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