Macron Urges EU to Launch Common Debt Instrument for Strategic Investment

French President Emmanuel Macron has called on the European Union to establish a common debt capacity, such as eurobonds, to finance crucial investments in strategic sectors including ecological transition, artificial intelligence (AI), and quantum technology. In an interview with several European newspapers conducted ahead of the EU summit in Brussels, Macron stressed the urgency of collaboration among the 27 member states to keep pace with global competitors.

Macron highlighted the ongoing commercial and economic pressures faced by Europe, particularly from the United States and China. He stated, "For nine years, I have advocated for a more sovereign Europe," underscoring the need for a "European preference" in these vital industries to prevent being overwhelmed by external powers. He estimated the required public and private investment at approximately €1200 billion per year.

The President proposed the use of eurobonds to create a shared financial mechanism enabling the EU to mobilize resources and enhance its economic sovereignty. Macron emphasized the importance of protecting European producers from unfair competition, criticizing the EU's currently very open market stance and arguing that Europe should not impose stricter rules on its companies than those applied to non-European importers. He notably opposed the EU-Mercosur trade agreement, describing it as a "bad agreement," and pointed to initial protective measures such as taxes on heavily subsidized Chinese electric vehicles.

This initiative forms part of Macron’s broader strategy to shore up European industry, security, and ecological transformation. He identified three pillars for investment: security and defense, ecological transition technologies, and advances in AI and quantum computing.

As the EU prepares for the forthcoming summit, Macron's advocacy for a common debt instrument reflects a pivotal moment in European economic policy aiming to boost integration and competitiveness while reinforcing financial sovereignty against global economic pressures.