Brussels: French President Emmanuel Macron has called on the European Union to move towards joint borrowing, saying it is time for Europe to strengthen the euro and reduce its dependence on the United States dollar.
Speaking ahead of an EU leaders meeting, Macron said the bloc must act more boldly to protect its economic interests in a world marked by rising geopolitical tensions and financial uncertainty. He argued that shared EU debt, similar to borrowing used during the COVID 19 recovery period, could help fund major investments in defence, energy, technology and climate action.
Macron said Europe needs greater economic sovereignty and warned that relying too heavily on the dollar leaves the EU exposed to decisions taken outside the continent. He described the current global situation as a wake up call for Europe to deepen cooperation and move faster on long delayed reforms.
The French president also said tensions with the United States were likely to continue, particularly on trade, digital regulation and industrial policy. He stressed that Europe must be strong enough to defend its own rules and values while remaining open to cooperation.
His comments come as EU finance ministers and central bankers are holding wider discussions on how to boost the international role of the euro. These talks include ideas such as more joint debt issuance, closer fiscal coordination and new financial tools to make the euro more attractive globally.
However, Macron’s proposal is expected to face resistance from some EU member states, especially those concerned about sharing debt and fiscal risks. Countries such as Germany and others in northern Europe have traditionally been cautious about permanent joint borrowing.
Despite these divisions, the debate is gaining momentum as Europe faces growing pressure from global rivals and shifting alliances. EU leaders are expected to continue discussions on economic resilience and strategic autonomy in the coming weeks.