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Fuest Urges Germany to Accept Macron’s Brainstorming Invitation

Summary:
Ifo President Clemens Fuest has mixed feelings over French President Emmanuel Macron’s plans for Europe. “In areas like foreign policy, security and trade policy it would certainly be helpful if there were greater scope for the EU to take action,” said Fuest. “But I think that Macron’s plans for the Eurozone are flawed. Creating a euro budget or the position of a European Finance Minister will not solve the Eurozone’s problems. It is more important to ensure greater stability in the financial sector and closer alignment between liability and controls in economic and financial policy. In the end, Macron’s speech constitutes an invitation to Germany to brainstorm over Europe’s future. Germany should accept this invitation," noted Fuest. Links

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ifo President Clemens Fuest has mixed feelings over French President Emmanuel Macron’s plans for Europe. “In areas like foreign policy, security and trade policy it would certainly be helpful if there were greater scope for the EU to take action,” said Fuest. “But I think that Macron’s plans for the Eurozone are flawed. Creating a euro budget or the position of a European Finance Minister will not solve the Eurozone’s problems. It is more important to ensure greater stability in the financial sector and closer alignment between liability and controls in economic and financial policy. In the end, Macron’s speech constitutes an invitation to Germany to brainstorm over Europe’s future. Germany should accept this invitation," noted Fuest.

Clemens Fuest
Clemens Fuest took over from Hans Werner Sinn as chairman of the IFO Institute in April 2016. He is professor at the Faculty of Economics of the University of Munich.

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