LORS of a round table devoted to European sovereignty, to the economic meetings of Aix-en-Provence this Friday, the governor of the Banque de France has put on a cap bearing the inscription “Make Europe Great Again” (“return its greatness to Europe”), in reference to the slogan of Donald Trump (“Make America Great Again”).
“It’s about putting Europe in mind, and I will even say Europe on the head. So I’m going to take an outfit little (surprising), I warn you in advance, ”said François Villeroy de Galhau, putting his cap. “I promised to wear it, I do not promise to keep it because it is a little hot, but you will see the message.”
European challenges
The pressure rises to the approach of July 9, a deadline for the conclusion of a trade agreement between the European Union and the United States, failing which Washington could impose an increase in customs duties of 50 % in different European key sectors (agriculture, automobiles, etc.).
Although unpleasant, this trade war invites Europeans to look in the face and see the lack of competitiveness of the old continent in the face of the American and Chinese giants: the EU accuses, for example, of digital delay and advanced technologies, especially against the United States and China (in 2024, it had around 150 unicorns, against 800 across the Atlantic).
Despite certain initiatives to relaunch its strategic industry, it is also dependent on third countries to, in particular, critical raw materials, semiconductors or even technology. Overall, European industrial policies suffer from a lack of coordination between the 27. To name a few.
So in the aftermath of the re -election of Donald Trump, who considers Europe more as a rival than an ally, the governor of the Banque de France calls for European starts. “Trump is obviously something very opposing to the global, American, European economy, but it is alarm clock for us,” said François Villeroy de Galhau.
Read too Trump experiences the hateful rage of a rejected lover against Europe“We must transpose what we have succeeded in terms of monetary sovereignty, 25 years ago, with the euro, towards economic sovereignty and financial sovereignty,” he added. In other words, faced with American separation, the European chick must leave the nest and stand on its own feet. He is capable of it, insists the banker.
“The Euro is a political success”
To discover
The kangaroo of the day
Answer
“The euro is a political success. In 1992, barely 51 % of French people were for the euro. Today is 79 % and even 83 % at European level. »»
Enthusiastic, European to the guts, François Villeroy de Galhau has not hidden its fervor, in particular by pleading for better integration of the capital market in Europe, which remains fragmented, underdeveloped and unequal according to the countries (especially, once again, in front of the Americans): “Everything that we can do to strengthen our internal financial market, this union of savings and investment, will also contribute to external attraction, An integrated financial Europe, the more external capital will come there ”.
