Macron calls for “crucial measures”: Europe as an “independent power”, the only solution in the face of economic threats from China and the US

French President Emmanuel Macron has called for joint European loans to finance massive investment to keep Europe competitive in the race with the United States and China.

On Wednesday, in a speech to a group of industrialists in Antwerp, Belgium, the French leader said that making Europe an “independent power” is the “only” solution to the economic threats from China and the US, according to AFP, quoted by Agerpres.

“We need a new scale and a new speed in our approach to end the fragmentation that weakens and risks humiliating Europe,” he said at the European industry summit.

Macron again floated the idea of ​​”Eurobonds” to finance investments.

“If we want to invest sufficiently in space defense and security, clean technologies, artificial intelligence and quantum technology, to transform our productivity and competitiveness, the only solution is to resort to issuing a common debt,” said the French president.

“We must agree to take crucial action”

France has been supporting the idea of ​​a common European debt for years, but the strategy is always rejected by other countries, including Germany.

Macron said the current period is “completely unprecedented”.

“Therefore, we must accept to take crucial measures that are not very common in the classic European toolkit,” the French leader stressed.

“I am convinced that we need to send a clear message that we are in an emergency situation,” he added, warning that “soon it will be too late.”

At the same time, he appealed to the voluntary countries to apply the European single market reforms proposed by the Commission, and if they do not progress by the end of June, to resort to “enhanced cooperation”.