On the occasion of a debate devoted to European sovereignty in Aix-en-Provence, François Villeroy de Galhau addressed the red cap “Make America Great Again”.
The governor of the Banque de France, François Villeroy de Galhau, put on a green cap carrying the message «Make Europe Great Again»diversion from the slogan of Donald Trump on Friday during a debate devoted to European sovereignty in Aix-en-Provence. “It’s about putting Europe in mind, and I will even say Europe on the head. So I will take an unusual outfit, I warn you in advance ”he said.
He then styled the cap, a nod to the red headgear often displayed by American president Donald Trump and his slogan was made up of his slogan «Make America Great Again» (“Getting its greatness to America”). “I promised to wear it, I do not promise to keep it because it is a little hot, but you will see the message”he added about the cap loaned by a «ami»under applause, during the economic meetings organized until Saturday.
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Fragmented industrial policy, high energy costs, bureaucratic heaviness, delay in digital technologies … The European Union undergoes a dropout compared to the United States, whose decision to increase customs duties also affects its economic prospects. “Trump is obviously something very opposing to the world, American, European economy, but it is alarm clock for us”assured the governor of the Banque de France.
“Strengthen our internal financial market”
“Luck, with what is happening with the new American administration, there is an expectation of monetary Europe and an possibility of an international role of the increased euro”he continued. “This will be a progressive diversification, it can be done by more European debt, especially to finance the defense, it can perhaps be done by pooling existing national debts. No solution is obvious ”according to him.
“We must transpose what we have succeeded in terms of monetary sovereignty, 25 years ago, with the euro, towards economic sovereignty and financial sovereignty”insisted the central banker. He also defended increased integration of the capital market. “All that we can do to strengthen our internal financial market, this union of savings and investment, will also contribute to external attraction, because the more we will have an integrated financial Europe, the more external capital will come there”he added.
