French President Emmanuel Macron urged on Europe on Wednesday to take on shared debt because the continent has to invest more, a measure similar to one taken during the Covid-19 pandemic.
“We need more European public investment,” Macron said during a speech at the World Economic Forum. “Perhaps by daring to use ‘Eurobonds’ again” to fulfil “major priorities for the future”.
He identified 2024 as a “key” year, with European Parliament elections taking place in all 27 nations later this year.
The French president also stated that the EU needed to “deepen the capital markets union,” adding, “We must absolutely have a Europe that is more financially integrated.”
Macron stated that even if the subject was stalled at the EU level, France would seek “closer cooperation” with others on the matter since “we must absolutely advance”.
Europe has money, Macron said, but it is “poorly allocated”.
“It does not go to the right areas, it does not go to the right sectors.”