Mr Macron seems very happy thinking he has the blessings of the EU. Elżbieta Bieńkowska, Member of the EC in charge of Internal Market, Industry, Entrepreneurship and SMEs, received Emmanuel Macron, French Minister for Economy, Industry and Digital Sector earlier in November (EC Audiovisual Services, 6/11/2014)
Emmanuel Macron, France’s minister of Economy, visited London this week in an attempt to step up for his country’s future policy reforms. Among others, Macron announced that Britain must remain an EU member state and that Germany should invest in the EU. However, it was not mentioned anything about the fines that the European Commission (E.C.) may impose to France next Monday.
France’s reform system
The French government has announced its new structural reforms that will contain tax motivations for companies and modifications for Sunday trading laws. By doing so they intend to provide to every business equal chance. Nevertheless, the French unions and the “strong” middle class workers will not let this happen but will protest and fight for their rights. There will be severe consequences for the government of Francois Hollande if such measures will be implemented.
Another serious matter that requires attention but was not mentioned by Emmanuel Macron is the French budget. The country’s deficit is above the threshold of 3% which indicates fines’ imposition (theoretically up to €5 bn) because of the restrictions of the Stability and Growth Pact. The European Commission has untill Monday to decide for the fate of the budgets of the EU member states. Commission’s officials are struggling to come up with the final decisions that will not bring the overreaction of the member states, if France is not forced to pay the aforementioned fines.
Germany has to invest
Germany is one more time in France’s target regarding EU investments. Macron urged the biggest European economy to “throw” money in the market. More specifically, France suggested that Germany should invest €50bn to fund new capital programmes and stimulate growth because this is affordable for the latter. However, Germany who is always supporting austerity seems not to paying much attention to these sayings and silently rejects this.
UK must stay in the EU
Emmanuel Macron further stated: “I think the UK is a sensible nation with rational people … Unless it wants to be Jersey or Guernsey I don’t see how the UK can succeed outside Europe.” This came after the question to whether or not he worries about a possible UK exit from the EU as a consequence of the referendum that David Cameron, UK’s prime minister, promised in 2017. In addition, the French Finance minister, Michel Sapin, sent the same message to the British Prime Minister yesterday at a meeting with journalists held in Paris.
Was this something planned by both ministers? Why are they so persistent and worried about the future of the UK?
One possible explanation would be the recent bill of €2.1 bn sent by Brussels to London. This extra money were asked because the UK economy is growing faster compared to the rest EU member states this year and has to pay more taxes. On the contrary, France will receive €1 bn due to the downslope of the economy. This urges the Conservative party of David Cameron to think a lot for the solution of UK’s detachment from the EU.
However, this cannot be the reason for UK’s exit. Instead of the polarising the sentiment of the UK voter to serve their electoral campaigns, the political parties of the Albion need to take a responsible stance in this matter, as it is common knowledge that there is a mutual interest of UK staying inside the Union.
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