2024-11-22 17:47:00
Criticized by French employers for the tax increases in preparation and their consequences on the profitability of companies, Prime Minister Michel Barnier avoided angry subjects and called for a European start, this Friday in front of the presidents of German and Italian employers and French, gathered in Paris.
“Regardless of the election of American President Donald Trump, we need a European ‘wake up call’, and also to say ‘Europe First’ in our public markets,” he said during a trilateral forum devoted this year to the downgrading of the European economy compared to the United States and China, highlighted by Mario Draghi’s report.
“Making reciprocity”
The view taken by the former Commissioner for the Internal Market and Brexit negotiator on Europe is clear: “For thirty years we have been quite naive about our competition policy (..) We have opened all the windows of the globalization”. But as American and Chinese trade policies become more aggressive, such a position is no longer tenable.
At a time when a new European Commission is being set up, Michel Barnier’s conviction is that “the software must evolve now” and that we must now “create reciprocity”. “Europe has one main asset: its internal market,” he argued. “This is why Trump and the Chinese must respect us,” he said, judging that this was “much more than a free trade zone”.
“Unfair competition”
Faced with the withdrawal of the European Union, the host of Matignon notes that Germany, Italy and France have every interest in working together “more closely”. “Franco-German cooperation is more and more necessary but less and less sufficient,” he regretted. The French Prime Minister also called for accelerating the Capital Markets Union in Europe, ensuring at the same time that France would create a savings account dedicated to industry at the beginning of next year.
Finally, Michel Barnier insisted on the necessary simplification and debureaucratization efforts to be made, at the community level and in France. “The European Commission would be in its role to carry out a ‘screening’ of European texts,” he said. Also criticizing the over-transposition of certain European directives, he promised to go back, recognizing that this had put many agricultural and industrial companies in a situation of “unfair competition”.
These observations are widely shared by German, Italian and French employers, who for two days continued to emphasize the urgency for the European Union to react quickly. In a joint declaration published at the conclusion of the sixth economic forum, the German BDI, Confindustria and Medef set four priority subjects on which they expect initiatives this year: competitiveness, simplification, innovation and investment. and the union of capitals.
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What specific measures is Prime Minister Michel Barnier proposing to balance tax reforms with the concerns of French employers about company profitability?
**Interview with Prime Minister Michel Barnier on European Economic Strategy**
**Host:** Good evening, Prime Minister Barnier. Thank you for joining us to discuss the recent trilateral forum in Paris and your vision for the European economy amidst current global challenges.
**Barnier:** Thank you for having me. It’s a crucial time for Europe, and I appreciate the opportunity to share my thoughts.
**Host:** You faced criticism from French employers regarding upcoming tax increases and their potential impact on company profitability. How do you plan to address these concerns while still pushing for what you termed a ‘European wake-up call’?
**Barnier:** It’s important to recognize the balance we must strike. Tax reforms are necessary to ensure long-term sustainability and competitiveness in the European market. However, I understand the concerns of employers. What we need now is a collective effort – a commitment from all European nations that prioritizes our common goals. The call for ’Europe First’ in public markets is not just rhetoric; it’s about creating an environment where our businesses can thrive while also preparing for more competitive global conditions.
**Host:** At the forum, you emphasized moving away from a naive understanding of competition policy. Can you elaborate on what changes you envision?
**Barnier:** Absolutely. For too long, Europe has been overly open to globalization without sufficient safeguards. The policies from the U.S. and China are now particularly aggressive, and we must adapt. Our approach to competition must be more reciprocal. This involves reassessing our policies to protect our industries and ensure fair competition. I believe that the new European Commission will play a pivotal role in reforming these frameworks.
**Host:** You mentioned the need for the ‘software to evolve’. What specific changes do you foresee in the European economic strategy?
**Barnier:** We need to modernize our policies to respond actively to rapid global shifts. This means investing in innovation, supporting our industries strategically, and enhancing our regulatory frameworks. The importance of digital transformation and green technologies cannot be underestimated. By doubling down on these areas, we can create a more resilient economy that protects our values and enhances our global competitiveness.
**Host:** As we move forward, how do you perceive Europe’s role on the global stage in relation to the U.S. and China?
**Barnier:** Europe must assert itself as a leader in global economic dialog and set the standards, especially in sustainability and governance. We have the potential to champion a different model based on inclusivity and fairness, contrasting with the more aggressive policies of the U.S. and China. It’s about uniting our strengths to build a robust economic framework that not only defends but also promotes our European values.
**Host:** Thank you, Prime Minister Barnier, for your insights. It’s clear that the path ahead requires collaboration and strategic thinking.
**Barnier:** Thank you. It has been a pleasure discussing these vital issues. Together, we can navigate the challenges and ensure a prosperous future for Europe.
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This fictional interview encapsulates your original information while presenting an engaging dialog around the challenges and opportunities facing Europe.
