French President Emmanuel Macron has called on Europe to step up and act like a global “power,” warning that the continent faces a wake-up call amid mounting challenges from China, Russia, and increasingly unpredictable US policies.
Speaking to a consortium of European newspapers ahead of an EU summit in Brussels, Macron said the bloc must strengthen its economic, financial, and defence capabilities while safeguarding democratic institutions.
“Are we ready to become a power? This is the question in the field of economy and finance, in defence and security, and in our democratic systems,” he said.
Macron reiterated his long-standing call for EU-wide mutualised loans, or “eurobonds for the future,” to fund industrial investment and major projects. He said the 27-member EU needs €1.2 trillion ($1.4 trillion) annually to support critical sectors including security and defence, clean energy, and artificial intelligence.
“The world markets are increasingly afraid of the American greenback [dollar]. They want alternatives,” Macron said. “For investors everywhere a democratic state of law is a huge attraction. And when I look at the world as it is, we have the authoritarian regime that is China, and on the other side we have the US distancing itself further and further from a state of law.”
The French leader stressed that Europe must protect strategic industries without turning to outright protectionism, noting that China and the US actively shield their own domestic sectors while Europe remains the world’s most open market.
“Climate change is accelerating. The US – which we thought would guarantee our security forever – is no longer sure. Russia was to give us cheap energy forever, but that stopped three years ago. China… has become a rival that gets fiercer and fiercer. Today, we Europeans are on our own. But we have each other. We are 450 million people. It’s huge,” Macron said.
He also referenced the recent US-EU tension over Greenland, warning Europeans not to be complacent when Washington appears to back down.
“At the end of a crisis, there is a cowardly tendency to sit back and say ‘phew’. There are threats and intimidation, and then suddenly Washington gives way. And people think it’s over. Don’t believe it for a single second,” he said.
Macron acknowledged France’s historical economic weaknesses compared to northern European countries, citing a lack of structural reforms. However, he argued that growing demand for European debt instruments shows that the continent could leverage its strengths to play a more decisive global role.
