Jacques Serais, edited by Manon Fossat
Emmanuel Macron and Mario Draghi on Thursday called on EU countries to reform the European budgetary rules defined by the Maastricht criteria, in order to allow more investment spending, while recognizing that it will also be necessary to reduce debts. This is one of the priorities of the French presidency of the EU.
After the Franco-German axis, a new alliance seems to be emerging in Europe, but this time on the budgetary front. Emmanuel Macron and Mario Draghi, the President of the Italian Council, call for reform of European budgetary rules in a column published Thursday on the website of the Financial Times. Their objective, to obtain from the 27 a relaxation concerning the famous 3% maximum deficit authorized by the texts.
Emmanuel Macron had already announced during his press conference on December 9 that he wanted to reform these criteria. This time, he renews this message alongside the Italian leader. And it is not a hazard. On the eve of the French Presidency of the Council of the Union, the French Head of State wants to send a strong signal to European leaders. And more particularly to his counterparts in northern Europe, the most attached to the rules of austerity, who had already expressed reluctance during negotiations for the 2020 European recovery plan.
A new ally on the European scene
Among these countries that France is trying to convince of the interest of greater budgetary flexibility is Germany. Angela Merkel has given way to Olaf Scholz, but the new chancellor, who was finance minister, is not particularly more open on the issue than his predecessor. It is therefore no coincidence that Emmanuel Macron relies on Mario Draghi, former president of the European Central Bank, to write this column.
A month after the signing of the Quirinal Treaty, supposed to give a framework to the relationship between Paris and Rome, the tenant of the Élysée is no longer hiding his intentions. As if, definitively, France had a new best ally on the European scene. Italy, and no longer Germany.