Emmanuel Macron Talks EU Spending, Banks M&A, China
May 13, 2024
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French President Emmanuel Macron discusses the need for additional EU spending, challenges faced by European banks, innovation, job creation, renewable energy policies, shifting primary listing, ESG measures, climate change alignment, France's competitive advantage in luxury and fashion industries, and navigating international trade relations between Europe and China.
France aims to enhance competitiveness through innovation and investment.
Advocacy for fair competition and reciprocity in trade to protect European industries.
Deep dives
Reforms and Economic Progress in France
France has implemented various reforms since 2017, including tax cuts, labor law changes, and reforms on pensions and unemployment schemes. Despite facing economic challenges, such as high state intervention and bureaucracy, France aims to enhance its competitiveness. The country focuses on innovation, investment, and decarbonization to lead in Europe.
Capital Market Union and Economic Strategy
France emphasizes the need for a more innovative and efficient European economic model. Key reforms include establishing a capital market union, encouraging investment, and creating a common budget. The goal is to align with the US in terms of innovation, investment, and financing policies to boost job creation and economic growth.
Challenges in European Trade and Business Growth
European economies face challenges in global trade and competition, particularly concerning China and the US. France advocates for fair competition, reciprocity in trade relations, and a level playing field. The focus is on protecting European industries, ensuring fair trade practices, and fostering job creation and value within the European market.
France President Emmanuel Macron spoke to Bloomberg News Editor-in-Chief John Micklethwait about the European Union’s investment model and the need for an extra €1 trillion ($1.08 trillion) in EU spending. He has been speaking to Bloomberg News in the Palace of Versailles, on the sidelines of the Choose France summit.