The pressure is on for Emmanuel Macron. France has given his political movement, La République En Marche!, a clear mandate in the National Assembly. Now it’s his turn to deliver economic reforms and jobs, bringing down the country’s eyewateringly-high unemployment rate. He will also need to start delivering on his ambitious promises when it comes to Europe.

During the election campaign, Macron pledged to champion deeper eurozone integration as a way to kickstart Europe’s economy. He has called for a common eurozone budget to promote growth through investment, supervised by a eurozone finance minister. Political oversight would be provided by a new eurozone parliament made up of existing MEPs from euro countries. Macron believes that if these reforms are not undertaken then the single currency will collapse within a decade.

The fine details of the Macron plan have yet to be unveiled. However, there are encouraging noises coming from Berlin, where senior figures within the government have been declaring themselves open to the idea of comprehensive eurozone reforms (providing, of course, that France can overhaul its own economy first). Still, the idea of turning the eurozone into a “transfer union”, where rich countries routinely and automatically send money to poorer countries, is unlikely to go down well with the German voting public. One solution being mooted is to install a German as head of the European Central Bank, but it’s not clear how that would play in those European countries (particularly in the South) already uncomfortable with the amount of economic and political clought wielded by Germany.

Then, of course, there are the non-eurozone countries to worry about. The traditionally eurosceptic Brits are currently on their way out the Brexit door, so are unlikely to block deeper integration. Yet by focusing his reforms exclusively on the eurozone, Mssr. Macron’s plans look suspiciously like a “two-speed europe” model, with non-eurozone countries stuck on the outside looking in. Will they, like the Germans, also want reassurances?

Could Emmanuel Macron’s eurozone reforms save the EU? Does the eurozone need its own treasury and finance minister? Would a eurozone parliament help provide political control? And if major reforms aren’t carried out, will the euro collapse within a decade? Let us know your thoughts and comments in the form below and we’ll take them to policymakers and experts for their reactions!

IMAGE CREDITS: CC / Flickr – Jeso Carneiro


92 comments Post a commentcomment

What do YOU think?

  1. Jovan Ivosevic

    Schauble already told them they re not happening. Which means they re not happening. He ‘ll be another Hollande in less than two years.

    • David Alan Roden

      Schauble is far too powerful – just reading Yanis Varoufakis’ “Adults in the room” and it almost makes me feel sorry for Jean Claude Juncker.

      Schauble has a lot to answer for

    • JE Mowbray

      Glad I aren’t the only one looking at Project Macron and thinking it’ll all end in tears.

    • Tobias

      Happy to have Schäuble to stop that nonsense.

    • giorgos Anagnos

      yeah it’s well known that Germany wants the single market without the solidarity and shared responsibilities that come with it (much like Eastern Europeans who don’t want refugees).

  2. Matteo Magnus Magni

    yes He must do this: For build a more united europe
    1)Common defence policy
    2)Common Foreign policy
    3)Euro for all countries
    4)European constitution
    5)Penal laws common
    6)Common Welfare( with German Model)
    7)Admission of New Countries with these standard
    8)Re admission after 2020 like I think of England
    9)Common Health Law
    10)Common Environment Law
    11)Agrrements with China,India and LAtin American countries for avoiding USA
    12)Creation of our internet for not more depending from USA

    • Jovan Ivosevic

      Most of those things already exist. If anything destroys the EU it will be the euro. Net importer countries are squeezed and have no way to cope except through cutting spending because of the inability to deficit spend. Its one of the dumbest economic concepts of the modern world ever invented.

    • Bódis Kata

      You should study some economics and understand monetary policy tools.

    • Stefania Portici

      scrivi sempre le stesse parole con un copia incolla sui punti da fare , ma davvero ???

    • Matteo Magnus Magni

      è il mio programma va iniviato all’Europarlamentoi voglio un aUE federatat a tutti i ocsti

    • Valeria Tancredi

      Matteo Magnus Magni non ti sfiora l’idea che potrebbe essere un programma talmente generico da significare tutto e niente? Che tipo di fiscalità dovrebbe mettersi in comune? Che tipo di sanità ecc?

    • Matteo Magnus Magni

      sono delle linee guida per questo serve debating Europe affinchè tutti dicano la loro lanciando dei topic su questi punti

    • José Bessa da Silva

      Not with my vote will that ever happen. We are not a country. My country is not yours.

    • Federico Rossi

      José Bessa da Silva you have a ridiculous short view.

    • ErikaBelair

      First of all he needs to make the necessary reforms in his own country .Once he has done that necessary european reforms can be discussed…not before.

    • Alex Ray

      …and, same loans and taxes

    • José Bessa da Silva

      An italian has no business with my view. My country, my view, no yours. You and me have nothing in common so no. Deal with facts. Your country can’t even handle its own parliament, it looks like a salami fight, and you want me to leave my life dependent on your people? You must certainly be joking…

    • Tarquin Farquhar

      @Matteo Magnus Magni
      Yet another zealot from a corrupt country that cannot look after itself advising others from stable, less-corrupt countries primarily in the Northern EU!

  3. Piedade Luisa Pinho

    Quais reformas?!? He’s Merkl’s servent. He will do what his master order him, to do. France has lost, its political opportunity of free itself.

    • giorgos Anagnos

      Les Melenchonistes et Frontistes ne savent pas comment accepter la perdue! Sad!

    • Sonam

      If they did save money means they save us due to money creates job for us..

    • Bódis Kata

      We would be paying for the “saving” for the next two generations.

    • dball

      Can you please explain your moronic comment. In detail, with complete references.

  4. Zille Vuk

    Jess he will..import more refugees and cause economoc and cultural clash between people”religions” and when shitt hits the fan, he and other bankers will sit on there private eiland and discuss how much they earn with weapons sale..

    • Rosy Forlenza

      addirittura, siamo gli spazzatori di tutti i problemi lasciati in africa dei vecchi imperi..ma la nostra classe politica non ha le palle (nessuno eh!) solo grandi ego che lanciano degli insulti…

    • Stefania Portici

      Mannaggia al popolo francese che non sa dirigere la sua politica in modo sano per tutti. La Francia nel mondo sembra una disgrazia per tutti eh

    • Stefania Portici

      Macron ha rimandato in Italia gli immigrati ed ha detto che non prende gli immigrati economici . Sono quasi tutti immigrati economici quelli che arrivano qui. Li portano LORO con le loro navi da noi ,rimandarli nel Paese d’origine è difficile perchè il Paese d’origine ( inesistente perche destabilizzato dalla Francia ) non riprende indietro l’immigrato e restano tutti qui ? Le navi ONG non dovrebbero più sbarcare in Italia, devono andare nei porti dei loro Paesi e portare gli immigrati li. Hanno stufato TUTTI

    • Stefania Portici

      dopo tanto strillare nostro si sono incontrati e che hanno deciso? Che le ONG non devono arrivare sulle coste libiche e non devono spegnere il localizzatore. Eh….e a noi cosa cambia ??? Verrà qualche sbarcazione di meno forse ma il problema ci resta uguale . Maledetti francesi che non sanno quello che fanno , sembrano ciechi da anni mica da adesso e lasciano salire al potere gente poco raccomandabile che fanno disastri e sofferenze nel mondo.Ma perchè il popolo francese non è sveglio , recettivo , attento ? Ma cosa hanno che li fa dormire sonni profondi mentre la loro elitè massacra il mondo ?

    • Stefania Portici

      a proposito giorni fa è finita la sentenza sulla strage di Ustica . Dopo 37 anni sappiamo che è stata la FRANCIA a provocare la strage. Ha invaso la sovranità italiana senza averne diritto ed ha abbattuto l’aereo di linea italiana. Non riceveremo scuse dalla Francia come sempre , come sono abituati a trattare col mondo ( hanno il nucleare e tutti si devono inchinare alle loro prepotenze ) Nessun francese ha mai chiesto scusa al mondo . Avranno anche il nucleare ma il rispetto non non si ottiene con la forza

    • Stefania Portici

      a proposito giorni fa è finita la sentenza sulla strage di Ustica . Dopo 37 anni sappiamo che è stata la FRANCIA a provocare la strage. Ha invaso la sovranità italiana senza averne diritto ed ha abbattuto l’aereo di linea italiana. Non riceviamo scuse dalla Francia come sempre , come sono abituati a trattare col mondo ( hanno il nucleare e tutti si devono inchinare alle loro prepotenze ) Nessun francese ha mai chiesto scusa al mondo . Avranno anche il nucleare ma il rispetto non non si ottiene con la forza. Il rispetto si dà e il rispetto si pretende ma prima SI DA . L’elitè francese non lo sà cosa significa rispetto

    • Amalia Esteban

      Italiano difendetevi dei vostri gobernante e delle ONG que vi distrugono

    • Stefania Portici

      Amalia Esteban dobbiamo difenderci si ma non dai nostri governanti . La politica italiana risponde ed è diretta dalla volontà popolare cosa che non è altrove . La politica italiana sta facendo quello che il popolo chiede e lamenta e la UE, la Francia, la Germania che non ascoltano e ci distruggono

  5. Jerzy Zajączkowski

    French politicians are not able to properly manage France. Let them leave Europe to Europeans. Otherwise, the EU will fall apart.

  6. Rosy Forlenza

    personally i do not agree at present. you cannot create eurozone reforms that are simply plastering over problems. Southern Europe and France have a robust sense of workers (or did have but are being rapidly eroded), as well as other democratic socialist rules (which on the whole are good but which corporate in vestment doesn’t like). corporate investment is not the only way to create jobs, it should be one of many tiers. So if I wanted to kick start italy for example, or all of southern europe then the EU needs to take the best of the more vibrant economies. First: A citizens information centre that is clear on line that highlights a check list of what you need to do when you move. At present the eu website shunts you over to national websites and most of them are rubbish and confusing. Italy can do this, the commune di vicenza website is excellent. Two) in relation to rural revitalization. Air bnb is a double edge sword, in the cities it can undermine rentals for employees but in the rural areas it could be a great opportunity for regeneration so again, information on how this can work alongside the agriturismos, hotels and official bnbs is important and everyone lags behind (so this is aimed at the smaller investor shall we say). In italy get rid of the partita iva..really. No where should it cost more than a couple of hundred euro for an accountant to register a sole trader or libera professionista with the tax authorities. NO VAT registration until gross earnings hit a particular amount in ireland it is around 30k. SOme professions are exempt. Finally a proper consumer association which can be central reference point for the more specialist ones. the eu consumer association wasn’t great tbh, introduction of a small claims court and…here’s the nub, minimal corporate tax (giving flexibility to smaller countries like holland and ireland) and a vat range (again giving flexibility), but over all we need clarity. I would start there rather than plastering over the underlyiing problems with the beaurocracies in southern europe and france and sometimes the vagueness of ireland. Free movement should mean clarity and investors big or small should be able to get that info at the click of a button. And get rid of all the shite laws that allow money to be skimmed off into the pockets of incompetent solicitors notaries and lawyers because information is confused. Also better manners on estate agents, surveyors and lawyers dealing with property rentalas and sales (there is none in the eu ) would help with both investment and the free movement.

  7. Jerzy Zajączkowski

    France and Germany with their guests are a real threat to the rest of Europe and must be politically isolated. Otherwise, Europe will become Islamic.

    • Josh Cameron

      If the entire middle east moves to europe there will still be 300M more europeans in the eu than them

    • Ingemar Grahn

      Far from everyone in those countries is Islamic. So we would still be mutch more even 7f all of them was in Eu.

  8. Jason Picci

    Dalla Pagina dell’amico Roberto Toselli …
    Sono veramente contento che dal 16 di giugno Saif al Islam Gheddafi, liberato grazie ad un indulto dalle grinfie del governo di Tobruk, sia andato nel territorio tribale della tribù che porta il suo stesso nome. Al sicuro.
    La tribù Saif al Islam, alla quale va il mio sincero affetto e stima nonché la condivisione della ‘visione’ di una Libia “Una Grande e Libera”.
    Visione della quale Saif Gheddafi è simbolo ed emblema.
    Dedico queste mie parole all’amico Abduljalil Alayat.

  9. Manuel Da Bernarda

    It would be dificult for Macron.As soon as french people realize that they have to think more about duties than rights,there would be trouble ahead.I am anticipating huge manifs at Rue de Rennes or Boulevard St.Michel demanding less working hours and higher salaries!
    They are French!!!

  10. eusebio manuel vestias pecurto

    Finally there is a scenario less but better Europe here all member states choose decidedly to move forward in the direction of reformulation of the system of integration of the United States of Europe

    • Tobias

      For sure!

  11. Vytautas Vėžys

    EU is collapsing because people want less bureaucracy and less central management.
    How the hell increasing bureaucracy and and pushing more EU to United States of Europe will prevent this?

    • A pan-European Nationalist

      I want less bureaucracy and more central management, accountable more to me personally.
      Also, just say no Islam. And keep saying no to Islam.

      US of E, lets get federal!

  12. Paul Vincent

    When germany talks about supporting eu reform, what it means is for countries (inc france) to become more like germany.
    They will not agree to any closer union that involves fiscal transfers until this happens.

  13. Paul Vincent

    Macron needs to focus on reforming france !
    He will have his hands full with labour changes over nect couple of years.

  14. Dagmar Ueberfeld-Lang

    Mr. Macron and Mrs. Merkel need to continue on the path of Mitterand and Kohl. Mr. Macron has well understood that the EU cannot keep doing business as usual and he does not plan to do that. But he als understands he needs a strong partner for his reform plans.That partner, at this time, is Germany. I don’t at all see Mr. Macron as another Hollande and he is much more than just another greedy banker.

  15. Paweł Kunio

    Most probably they wont. Drop welfare and head straight for free market and pure capitalism strengthening the once famous cult of work connected often with protestant culture in former Germany and elsewhere. Its long gone now in Germany but its revival is a must to fix eu.

  16. catherine benning

    Could Emmanuel Macron’s eurozone reforms save the EU?

    Mr Macron needs to deal with reforms on his cover up of his wife’s sexual assault on him as a boy of fifteen. All over the West women are going to jail for their unacceptable behaviour against their very young pupils. He is a man who in a relationship with his abuser. Why is it okay to do this if you sit in an EU office, but not if you are an ordinary female teacher the street? What is good for the goose is good for the gander.

    Are you seriously suggesting that should you marry a child abuser this makes the crime invalid and you suitable for political office. Whilst you flaunt the offender around numerous venues with you, as if promoting this kind of appalling treatment on other peoples children?

    It is offensive to push this man and his deviant wife onto the citizens of the EU whilst other women languish in jail for doing far less than this overt woman did.

    Here are a few who did as she. And look where they end up.

    http://www.mirror.co.uk/news/uk-news/schoolboy-groomed-teaching-assistant-we-6536549

    http://www.dailymail.co.uk/news/article-3442908/Female-middle-school-teacher-29-arrested-Fort-Worth-having-sex-15-year-old-student-traveling-state.html

    http://www.independent.co.uk/news/uk/crime/married-female-teacher-who-had-sex-with-16-year-old-pupil-screams-as-shes-jailed-for-12-months-a7039076.html

    https://www.theguardian.com/uk-news/2015/jun/03/woman-who-had-sex-with-14-year-old-boy-is-jailed

  17. Enric Mestres Girbal

    He is in the capitalist side and the EU needs to think more about the people and new social structures then the politicians pockets.

  18. EU Reform- Proactive

    ………..“Political oversight would be provided by a new eurozone parliament made up of existing MEPs from euro countries. The (fine) details of the Macron plan have yet to be unveiled”. Of course- when?

    Latest political EU brain wave: more speculation, conjecture, guesswork, raising expectations, raising animosities and (another) shot in the dark!

    Sure, why not another parliament in France (the A, B or reserve e-Team?), more (existing?) bureaucrats for a Brussels/Paris- super-supranational experiment? Might finally solve or dissolve the EU/Eurozone!

    Why not ask Germany + France to organize a “Sovereignty Auction”- where every willing nation can offer their freedom to the highest bidder! Proceeds divided by each citizen to retire and finally transfer all their sovereign rights, state assets & debts- to either the Île-de-France or “l’Allemagne”- as a “last WILL”? No more hide & seek, diddle daddle or expensive games- money talks! The ECB or Bundesbank can print more. Or:

    Why not simply publish the Grand Macron (Marshall) Plan to get it over with?
    .

  19. Sabin Popescu

    is this a joke?!?!?
    He’s applying protectionism at EU-level but condemns it at a local level.
    Typical for socialist bureaucrats…

    • Azad Maruf

      As siad very long times ago ” when the U.S.A sneezes, the world gets infected with flue and then cold, if not died later”….

  20. Ingemar Grahn

    I would not cold it saving cause it’s not on breaking point. At least is the value of the euro telling me that cuse it’s relatively high value in comparison with the dollar.

    But it will increase the stability and trust that’s needed in the market.

  21. Azad Maruf

    That contradictions found in Marcons ideoloicaly drawn plans can not serve the purposes that favours the E.u. economy.. ..in the past , that sorts of the European divisions found was serving the purposes , at the end when the matter was related to the E.u. stregnth and weaknesses…He looks to defuse that economic differences as an attemp for France to get more, even if the prices were too costy for the bigger images of the E.u. It seems to be his long works on that project did not consider that it will ends up against the all and the more stable ones than France….And that can cause a risky break down of the E.u. ‘s the lowest economy countries to split part for ever. And that last might be serving Brexit purposes, as believed. With Frexit he can not get any of the minimum postive results but no way except turning around with such strategies to meet his targets.

  22. Martin

    Either we remain a gathering of independant states and fail one after the other or exit the union through foreign propaganda (see Brexit), or we strive towards a United states of Europe with an elected President, Govenrnment and Parliament and not an appointed Comission.
    A european minister of finances is the right step. It should be followed by a european minister of Defence and a European minister of internal affairs with an FBI counterpart that can prosecute and investigate in the entire of the EU.

  23. Mauro Scimia

    What reforms? Using dogs to guard french borders against migrants? Refusing to deal with migration only because France is not their port of entry? Come on. Europe is busted.

  24. Yavor Hadzhiev

    Creating a Eurozone parliament is de facto splitting the Union. This will won’t work out well on the long term for the EU27. Whilst reforms are needed, they must aim maximum inclusion. I think that a “two speed” model should be avoided as much as possible. Anyhow, the EU can’t stop and those Member-States that are not “on board” when it comes to really important issues, should not complain about being left out.

  25. Paul X

    The problem with Macron is he is young and inexperienced, and as a typical youth he is naive and full of unjustified confidence and thinks he can change the world…

    Lets see how he handles his first real issue which will be the huge reduction in CAP subsidies that will be required following Brexit. Once the streets are full of militant French farmers and the country starts to grind to a halt, that will be a reality check for the poster boy Marcon and knock some of the youthful exuberance out of him

    • catherine benning

      @ Paul X

      Macron is following his teacher’s advice. He has never been allowed to mature, as to do so would mean facing up to the emotional distress of his past. The ideas he grasps are exploitation of his lack of maturity. Which has been mentally blocked by fear of truth.

  26. Ivan Burrows

    With less then 20% of the French voters voting for Macron you can hardly say he has a mandate.

    The unelected European Politburo dictate EU policy, not the elected National leaders & they have already slapped Macron down over his reform ideas so he will do as Brussels tells him, not the other way round.

    Meanwhile his domestic policies are the same failed policies Hollande had, when the strikes start Macron will make Hollande look like the most popular French resident ever.

    • catherine benning

      Ivan Burrows

      You can always tell when a person in office has been part of the, New World Order, conspiracy. They manage, against all odds, to celebrate their open flaunting of their family crime and stay out of jail. In this case, the way Macron flaunts and ‘celebrates’ his matrimonial paedophile in the faces of the French citizens who elected him as Mr Pure. It beggars belief, as, he not only does it to the French, but to the world via the media. And he does it daily with destain.

  27. Боян Максимов

    He is US lobby. He accept TTPI , us reject EU air auality policy. That is different regulations even for construction vehicles for EU and better regulation for US . We speak about many billion profits and place to work in us, curency…

  28. Agelos Kiose

    We need to stop voting for liberal and degenerate leaders, start voring for partiots and lovers of ones culture and peoples, then Europe will prosper again.

    • Rémi Martin

      Because you’re believing you’re going to change something by voting??? Ahahahahahahah!!!!!!

  29. catherine benning

    Reform is needed for laws regarding who can run for political office in the EU. A person that is unstable and marries an open criminal, who must likewise be unstable. It cannot be acceptable for weird perverts to run for office in the EU. How this wasn’t all over the media prior to his being voted into France is utter deceit. He has no right to be President of France.

    https://www.youtube.com/watch?v=HpxLHDYdlkQ

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