Macron's Call for Joint Borrowing Against Dollar Hegemony

Macron Calls for Joint Borrowing Against Dollar Hegemony

French President Emmanuel Macron made significant assessments about the structure of the European Union (EU) in interviews with Le Monde and other European newspapers. Macron emphasized the need to develop a joint borrowing system to enhance Europe's global competitiveness.

Joint Investments in Green Transformation and Artificial Intelligence

Macron stated that Europe should make joint investments in strategic areas such as green transformation, artificial intelligence, and quantum technologies. In this context, he pointed out the need for the Union's financing strategies to develop new methods to challenge the hegemony of the dollar.

Time for Awakening for a Stronger Europe

Ahead of the Leaders Summit in Brussels, Macron said, “I have been fighting for a more sovereign Europe for 9 years.” He noted that Europe is engaged in a more uncertain existential struggle under current global conditions, expressing that the decreasing reliability of the United States and the changing relations with Russia present new threats to Europe.

We Must Protect Our Industry

Macron suggested that the common market of Europe needs to enhance coherence and proposed reducing dependencies by creating new trade partnerships. He described the free trade agreement signed between the EU and MERCOSUR as “badly negotiated.”

We Need to Think About Europe’s Power Together

Stating that “There should be an awakening for Europe,” Macron emphasized that the continent, with its 450 million people, holds great power. However, he noted that member states do not consider this power collectively.

New Opportunities with Joint Borrowing

Macron highlighted the need for Europe to offer alternatives to the dollar, stating that establishing its own borrowing system through eurobonds represents a historical opportunity. “The global market is increasingly uneasy against the dollar. It is searching for alternatives,” Macron stressed that the EU should seize these opportunities.

Conclusion: Critical Steps for Europe’s Future

Macron asserted, “We must protect our industry. The Chinese are doing it, the Americans are doing it.” He emphasized that the protection strategies of Europe should become a priority, adding that it is essential to stand against unfair competition that violates World Trade Organization rules.