Macron and Scholz present their requests for the upcoming EU Commission.
French President Emmanuel Macron and German Chancellor Olaf Scholz lay out what they believe are the most critical tasks for the upcoming EU Commission in a shared article. Primarily, they highlight the importance of fortifying the European Union in the face of global competition.
In this piece published in the "Financial Times," the two leaders call for a revamp of the EU's billion-dollar budget post-elections. They suggest prioritizing investments in transformative expenses and European public goods. Additionally, they aim to progress with the implementation of new own resources for the EU, which may include own tax revenues or EU contributions, making the budget less dependent on annual national allocations.
As they outline their desired restructuring of the EU Commission, Chancellor Scholz and President Macron express the need for increasing the EU's industrial competitiveness to keep up in the global race. This doesn't just involve reducing bureaucracy. It also entails revisiting the concepts of subsidiarity and proportionality in terms of which rules should be established at the EU-level and which should be left to national governments.
Furthermore, the two leaders promote the idea of a more tightly-integrated European financial and banking sector. They suggest measures such as reviving the European securitization market, enhancing capital market supervision efficiency in the EU, standardizing corporate insolvency and tax laws, streamlining regulations, and creating a straightforward cross-border investment and savings product for everyone.
Lastly, they advocate for the EU to focus its efforts on key technologies like AI, quantum technology, space, 5G/6G mobile communication technology, bio and climate technology, mobility, and chemicals. They aim to utilize existing funding resources and adjust competition regulations to accommodate the new global competition landscape.
On the matter of trade, the two leaders deem their differences insignificant, with Germany pushing for faster conclusion of free trade deals between the EU and various regions while France is more hesitant. They stress that any trade agreements should create mutually beneficial opportunities for market access and "equal competitive conditions" with trade partners.
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- In their article, Macron and Scholz also emphasize the importance of strengthening the EU's economic ties with neighboring countries in Europe, such as Germany and France collaborating closely with their European counterparts.
- During the discussion on the EU Commission's requests, the leaders from France and Germany acknowledge the need for cooperation with other European nations, particularly Germany's ally, France, in addressing economic challenges faced by European countries, including Germany and France.
- As Scholz and Macron deliberate on the EU Commission's objectives, they underscore the significance of fostering a harmonious relationship with key European countries, including France and Germany, to ensure a prosperous economic situation for the entire continent.
Source: www.ntv.de
