Berlin visit

French Hopeful Macron: Euro Zone Needs Own Budget

  • Why it matters

    Why it matters

    Emmanuel Macron is a rising star in French politics and an outside chance of winning the Elysee Palace during elections in May. Should he win, Germany may come under new pressure to stabilize the euro’s finances.

  • Facts

    Facts

    • Mr. Macron, a former investment banker, said the 19 euro-zone nations should contribute to a separate budget for the area, financed by common debt, to pay for needed structural reforms.
    • Mr. Macron by one poll has recently surpassed right-wing candidate Marine Le Pen in polling ahead of France’s elections in April and May.
    • Mr. Macron was France’s economics minister in the Socialist cabinet of Francois Hollande but is running for president this year as an independent.
  • Audio

    Audio

  • Pdf
Macron candidate for the 2017 French presidential visits a qualification class for refugees of German railway operator Deutsche Bahn in Berlin
Emmanuel Macron, the former French economics minister and independent candidate for president, spoke out in favor of a euro-zone budget during a visit to Berlin on Tuesday. Source: Reuters / Fabrizio Bensch

The 19 nations of the euro single currency zone should create a separate budget, financed by commonly-issued debt, to stabilize the currency and pay for needed structural reforms, Emmanuel Macron, the former French finance minister and independent candidate for president, said Tuesday.

During a visit to Berlin, Mr. Macron, a former Socialist Party member of François Hollande’s cabinet and a rising star on the French political scene, called for a special funding entity to be created for the currency, which has been wracked by economic crises in Greece, Spain, Italy and other parts of southern Europe.

We hope you enjoyed this free article.

Subscribe today and get full access to market-moving news in Europe's leading economy.