The French President’s words came at a recent dialogue event in Berlin, and according to Macron, the 27-nation bloc lags behind the United States, as both countries outperform the European Union in economic output and investment.
He called for simplifying European Union regulations and deepening the single market to confront these challenges. The French President said, “The European Union may die. We are on the cusp of a very important moment.”
The French President added: “Our previous model has ended. We over-organize and under-invest.” Within the next two or three years, if we follow our classic agenda, we will exit the market.”
The French president also warned that the European Union’s failure to urgently reform regulations would push the bloc to implement a rescue plan within five to ten years.
He called on European Union countries to push for the establishment of fair global trade rules, and also urged Brussels to complete the package of financial and banking rules.
Earlier, former European Central Bank President Mario Draghi said that the European Union needs 800 billion euros ($890 billion) in annual investments, which is equivalent to about 4.5% of the Union’s GDP, in order to keep pace with the United States and China.
Source: RT + Bloomberg
#Macron #European #Union #die
2024-10-06 09:58:55
