Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Posts Tagged ‘Macron’

Macron’s Next Good Fight

Posted by hkarner - 23. Juni 2018

Date: 22-06-2018
Source: The Wall Street Journal

Now he’s moving to shift France’s attitude to welfare and work.

For his next magic act, Emmanuel Macron wants to reform France’s creaking social-welfare programs. The French President last week released a Twitter video and delivered a speech launching a debate over social spending, and this will be his biggest reform fight to date—and also the most perilous.

Specific proposals for changes aren’t due until next month at the earliest. But the outline is likely to consist of more money for health-related spending, but significantly less for income supports and housing subsidies.

France is overdue for change. Social spending eats up around one-third of annual economic output, the highest proportion among countries in the OECD. And for what? “We put a crazy amount of dough into our social benefits and poor people are still poor,” Mr. Macron told his advisers in a video clip of a meeting released on Twitter last week. Den Rest des Beitrags lesen »

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Emmanuel Macron’s Empty Victory

Posted by hkarner - 22. Juni 2018

Date: 21-06-2018
Source: The Wall Street Journal By Simon Nixon

French president’s deal with Germany on deeper eurozone integration is far from all he had hoped for

Emmanuel Macron campaigned to become president of France by wrapping himself in a European Union flag and promising to make Europe great again. He saw off his euroskeptic rival Marine Le Pen by offering an alternative vision of a “Europe which protects,” and expanded on that vision in a two-hour speech at the Sorbonne in September that outlined his manifesto for wide-ranging EU reform.

Now after weeks of intensive negotiation—including more than 30 hours of face-to-face talks over three weekends between French Finance Minister Bruno Le Maire and his German counterpart Olaf Scholz —Berlin and Paris have come up with a road map for deeper eurozone integration. And it is hard to escape the conclusion that Mr. Macron has come away largely empty-handed. Den Rest des Beitrags lesen »

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The Ultimate Démarche: France Wants to Oust English From the EU

Posted by hkarner - 15. Juni 2018

Date: 14-06-2018
Source: The Wall Street Journal

Prompted by Brexit, French President Emmanuel Macron wants to restore his language, the way it was before Britain joined

BRUSSELS—As if the European Union didn’t have enough to worry about, now it’s at odds over what should be its dominant language.

The Ultimate Démarche: France Wants to Oust English From the EU

The French president, Emmanuel Macron, wants to make French grand again and replace English as the default language in EU institutions, the way it was before Britain joined the bloc in 1973. With the U.K. negotiating to leave the EU next spring, he is eager to restore the linguistic ancien regime.

“English has probably never been so present in Brussels as when we’re talking about Brexit,” Mr. Macron said in March on the Day of Francophonie—a celebration of French language and culture observed in more than 70 countries. “This domination is not inevitable,” he declared. Den Rest des Beitrags lesen »

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Angela Merkel gives a distinctly limited response to Emmanuel Macron’s plans for euro-zone reform

Posted by hkarner - 8. Juni 2018

Date: 07-06-2018
Source: The Economist: Charlemagne

And that is (probably) as far as she will go

WHEN it came, it was everything and nothing at the same time. For over half a year Emmanuel Macron, France’s president, waited for a German response to the grand ideas for Europe’s future he had laid out at the Sorbonne last September. Governments rose and fell while Mr Macron drummed his fingers; the transatlantic bond stretched, and came close to snapping. When Angela Merkel finally gave her answer, on June 3rd, it came not in a big speech or a government statement, but in an interview with the Frankfurter Allgemeine Sonntagszeitung (FAS), a conservative broadsheet. How very like the German chancellor.

The responses to Mrs Merkel’s interview were like descriptions of the same object viewed through opposite ends of a telescope. For those sympathetic to French ambitions, the chancellor’s offers were weak, offering only baby steps towards the strengthened euro zone Mr Macron urges, constrained by the same old German red lines about rules and risk. Others were excited by what appeared to be the start of a genuine conversation, after months of waffle and delay. Some noted that Mrs Merkel went into considerably more detail than Mr Macron on matters like reform of the euro zone’s bail-out fund. So was this the start of something beautiful, or a great big German nothingburger? Den Rest des Beitrags lesen »

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Merkel Responds to Macron’s Plan to Overhaul EU With One of Her Own

Posted by hkarner - 5. Juni 2018

Date: 04-06-2018
Source: The Wall Street Journal

German chancellor’s suggestions, including combining defense capabilities and building a common eurozone investment fund, draw praise from France

German Chancellor Angela Merkel outlined proposals for overhauling and strengthening the architecture of the European Union in an interview published on Sunday, including combining nations’ defense capabilities and building a common investment fund for the eurozone.

While the suggestions broadly matched known German positions about the bloc’s future, they marked Ms. Merkel’s most direct and detailed reaction to proposals for overhauling the EU that French President Emmanuel Macron laid out in September.

The proposals, including beefing up an existing backstop for cash-strapped members of the eurozone and creating a joint budget for the currency union, came after capital markets briefly sank after the formation of a populist Italian government last week, evoking memories of the 2010 eurozone crisis. Den Rest des Beitrags lesen »

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Lifting Trump’s Playbook Is Risky for Europe

Posted by hkarner - 22. Mai 2018

Date: 21-05-2018
Source: The Wall Street Journal

With EU-U.S. relations at a low point, European leaders have ramped up the rhetoric

European Council President Donald Tusk, right, with Donald Trump in Brussels last year.

European leaders are playing a dangerous game.

Flattery, charm and traditional diplomacy failed to stop U.S. President Donald Trump from pulling out of the Iran nuclear deal, exiting the Paris climate accord and threatening tariffs on European steel and aluminum. So now, with relations between the U.S. and the European Union at their lowest ebb in 70 years, they are ramping up the rhetoric.

Last week, European Council President Donald Tusk took a leaf out of Mr. Trump’s book, taking to Twitter to vent the anger that many Europeans feel toward the U.S. president: “Looking at the latest actions of Mr. Trump, someone could even think: with friends like this, who needs enemies.” Days earlier, French President Emmanuel Macron had bluntly warned against those “who would blackmail us because the international rules they helped develop no longer work to their advantage.”

This change in tone partly reflects the shock in Europe at U.S. decisions that officials in the region believe represent real threats to their interests as well as bewilderment that the U.S. could treat the views of its traditionally closest allies with such apparent disdain.

There have been periods of trans-Atlantic strain before—notably over the Iraq war—and Mr. Trump’s criticism of European defense spending has a long pedigree. But past U.S. administrations always treated the EU as a valued interlocutor that could help further U.S. policy objectives. Indeed the U.S. has been such a strong supporter of European integration, it has often appeared more pro-European than some EU members. In contrast, Mr. Trump gives the impression that he regards the EU as irrelevant. Den Rest des Beitrags lesen »

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The EU Needs Less Technocracy and More Democracy

Posted by hkarner - 16. Mai 2018

Date: 15-05-2018

Source: Foreign Affairs By Catherine De Vries and Kathleen R. McNamara

Subject: How Choice Can Save Europe

The European Union, bruised and battered by years of political and economic crises, is at a crossroads. In a recent speech to the European Parliament, French President Emmanuel Macron warned that today’s political divisions in Europe are like “a European civil war.” Although the decade-old eurozone crisis has faded from public view, the ongoing refugee crisis, Hungary’s and Poland’s descent into illiberalism, and the aftershocks of the Brexit vote continue to divide the continent. In this context, it is not surprising that the EU itself has become an increasingly politicized topic among voters, many of whom have come to doubt the competence and integrity of their political and financial masters in Brussels and at home. Although support for a full-blown exit from the EU still finds only limited public support, Euroskepticism has moved from the fringe to the mainstream.

Yet there is a way out of Brussels’ current predicament. It starts with recognizing that both Macron’s EU speeches and the broader debates between the pro-EU camp and hard-core Euroskeptics rest on a false dichotomy of the EU as a choice between “in and out,” between blind support for the European project and further integration or a retreat into nationalism. Den Rest des Beitrags lesen »

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Macron’s Internationalism and the New Politics

Posted by hkarner - 12. Mai 2018

Kemal Derviş, former Minister of Economic Affairs of Turkey and former Administrator for the United Nations Development Program (UNDP), is Senior Fellow at the Brookings Institution.

French President Emmanuel Macron initially described his new political movement as being “neither on the right nor on the left,” and now says that it is “on both the right and the left.” But he won’t be able to fudge it indefinitely: sooner or later, he will have to pick a side with which to ally.

WASHINGTON, DC – French President Emmanuel Macron’s state visit to the United States last month was a study in contrasts. Despite the friendly dynamic, Macron’s agenda and rhetoric were almost diametrically opposed to US President Donald Trump’s. But Macron’s leadership is subject to an even more fundamental challenge; how he manages it could point the way forward for liberal-democratic politics.

Addressing the US Congress in English, Macron articulated a staunchly internationalist worldview, calling for stronger international institutions, a recommitment to the rules-based system of international trade, and a general embrace of globalization. With regard to Iran, he reiterated the need to preserve the 2015 nuclear deal, from which Trump has just withdrawn, though he did call for complementary agreements on topics that the existing agreement does not address.

Macron has also signaled that he will pursue a pan-European campaign for the 2019 European Parliament election. As a democrat, he believes that the deepening of the European Union must go hand in hand with the development of a truly European political space. Den Rest des Beitrags lesen »

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Euro-Rettungsschirm-Chef: Nächste Finanzkrise wird kommen

Posted by hkarner - 11. Mai 2018

 „Wenn wir es versäumen, die Währungsunion jetzt zu vertiefen, wird die nächste Krise uns zwingen, es zu tun“, warnt Klaus Regling. Dann würden die Kosten weit höher sein.

Ohne durchgreifende Reformen bei Währung und Finanzen droht Europa nach Einschätzung von Euro-Rettungsschirm-Chef Klaus Regling schon bald eine neue Finanzkrise. Auch der französische Präsident Emmanuel Macron fordert in diesem Zusammenhang weiter mehr Anstrengungen insbesondere von Deutschland – bei der Verleihung des Karlspreises in Aachen bekräftigte er am Donnerstag seine Kritik.

„Es ist sicher, dass es eine nächste Krise geben wird“, sagte Regling bei einer Veranstaltung der irischen Zentralbank am Mittwoch in Dublin. Unklar sei lediglich der genaue Zeitpunkt. Deshalb müssten jetzt dringend Reformen umgesetzt werden. „Wenn wir es versäumen, die Währungsunion jetzt zu vertiefen, wird die nächste Krise uns zwingen, es zu tun. Dann aber werden die Reformen wahrscheinlich mit höheren Kosten verbunden sein und unter extremem Zeitdruck geschehen.“

Bei den Debatten um die Vertiefung der Währungsunion, die zuletzt von Macron angetrieben und von der EU-Kommission konkretisiert wurden, geht es vor allem um zwei Dinge: die Vollendung der Bankenunion durch die Einführung eines europaweiten Sicherungssystems für Sparguthaben sowie den Ausbau des ESM zu einem europäischen Währungsfonds.

Macron kritisiert „Fetischismus“ für Budgetüberschüsse Den Rest des Beitrags lesen »

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The Growth Man of Europe

Posted by hkarner - 4. Mai 2018

Date: 03-05-2018
Source: The Wall Street Journal

Now Macron wants to slay France’s 30% exit tax.

French President Emmanuel Macron delivers a speech onboard the Australian aircraft carrier HMAS Canberra in Sydney, May 2.

We never thought we’d say this, but France has become the economic reform leader of Europe. Fresh off his productive meeting with Donald Trump last week, French President Emmanuel Macron disclosed that he wants to kill France’s “exit tax.”

“I don’t want any exit tax. It doesn’t make sense,” Mr. Macron told Forbes. “People are free to invest where they want. I mean, if you are able to attract, good for you, but if not, one should be free to divorce.” The 30% levy hits top earners who take their assets out of France, which as Mr. Macron rightly says is a disincentive to invest in France in the first place.

The exit tax raises a pittance—some 70 million euros in 2017—but it sends a negative signal about the climate for entrepreneurs that Mr. Macron is trying to change. The tax was introduced by the ostensibly conservative former President Nicolas Sarkozy, but in France it has been hard to tell the left from the right on economics. Den Rest des Beitrags lesen »

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