Macron argues for 'a more sovereign Europe' at Davos economic forum
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French President Emmanuel Macron pressed for increased European investment in advanced technologies and critical supply chains in order to keep pace with the United States and China.
Macron, speaking at the World Economic Forum in Davos, said he wanted to see "a more sovereign Europe."
"It doesn’t mean killing your links, killing your partnerships and killing your alliances. But it means to not be overdependent in some sectors of your value chains in some geographies," he said.
As in the face of the coronavirus pandemic, the European Union must jointly drive investment by deploying more tools, like the issuance of euro government bonds.
More money must be channelled into innovation and industrial development, for example in artificial intelligence, environmentally friendly companies and semiconductor technology, he said.
Macron called for the establishment of a capital markets union, which would reduce bureaucratic hurdles between EU states in order to give companies more opportunities to raise money.
"We need to create more and better-paid jobs," said the president.
