Merkel Teaches Macron the Art of the Possible
The German chancellor’s response to the Frenchman’s sweeping EU reform proposals isn’t flashy, but at least it’s workable.
She’s walking, not running, toward euro zone reform.
Photographer: Bloomberg/BloombergGerman Chancellor Angela Merkel has finally come up with a specific answer to French President Emmanuel Macron’s inspirational euro-zone reform proposals. This is a minimalist agenda but, unlike Macron’s, it’s detailed and actionable. It’s also largely in line with the European Commission’s ideas.
Discussions for advancing European integration intensified after Macron’s election victory last year. In September, 2017, Macron laid out his vision in a typically windy and sweeping speech at the Sorbonne. He spoke of a united European military (“Europe’s autonomous operating capabilities, in complement to NATO”), a “genuine European asylum office” to harmonize migration policy, common taxes – a financial transaction one, as well as digital business and environmental levies, plus pooled contributions from corporate tax revenues – to fill a common budget that would be run by a euro zone finance minister. The plan was poor on details and politically iffy, especially its economic part. It was unclear how many European Union countries would be prepared to give up their sovereignty in one of the few areas the EU has left to their sole consideration: taxes.