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French President Emmanuel Macron, in a bold appeal at the World Economic Forum in Davos, urged Europe to embrace collective debt once again, reminiscent of measures taken during the Covid-19 pandemic. In his address, Macron stressed the imperative need for increased European public investment, proposing a revival of ‘Eurobonds’ to address major priorities shaping the future.
Looking ahead to the pivotal year of 2024, Macron characterized it as “key,” especially with European Parliament polls looming later in the year across all 27 countries. Beyond shared debt, the French leader advocated for a deeper integration of capital markets within the EU, emphasizing the necessity for a more financially unified Europe.
Macron’s vision extended beyond potential hurdles at the EU level, as he expressed France’s determination to pursue “closer cooperation” with other nations on the matter. His resolute stance echoed the belief that progress must not be impeded, especially in a year marked by critical electoral events.
Highlighting a critical concern, Macron remarked that although Europe possesses financial resources, their allocation is suboptimal. He pointed out that the funds are often directed away from the areas and sectors that require them the most. Macron’s call for a strategic financial reallocation reflects a broader vision of European economic reform, emphasizing the need for effective and targeted investments to propel the continent into a more prosperous future
