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Macron unveils radical reform plan for the EU

Tuesday, September 26, 2017 - 01:50

French President Emmanuel Macron on Tuesday reaffirmed that he wanted the euro zone to have its own budget and finance minister, adding that it was key to ensure the stability of the single currency union and to weather economic shocks. Scarlett Cvitanovich reports

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France's president laying out a sweeping vision for a renewal of Europe. Emmanuel Macron calling for the EU to cooperate more closely on defense, immigration, tax and social policy and for the single currency bloc to have its own budget (SOUNDBITE) (French) FRENCH PRESIDENT, EMMANUEL MACRON, SAYING: "The only way ahead for our future is the renewal of a sovereign, united and democratic Europe." But Macron is facing an uphill battle attempting to marry his vision for Europe with the new reality of German politics. He's long promised to work with Chancellor Angela Merkel to reshape Europe as Brexit negotiations near crunch time. But Germany's election result two days ago could potentially put a dampener on his plans, with the rise of the far-right seeing support for Merkel's conservatives slide. Now, she faces months of difficult coalition negotiations that could lead to a dead-end and limit her flexibility on Europe. One of her likely partners - the liberal Free Democrats - have already criticized many of Macron's ideas. But he didn't contour his speech to meet any demands (SOUNDBITE) (French) FRENCH PRESIDENT, EMMANUEL MACRON, SAYING: "We need further investment, we must have the means to withstand economic shocks and for those reasons we need a stronger budget at the heart of Europe." By setting out his vision now, Macron will be hoping it will be taken into consideration during Germany's coalition negotiations. With fears rising around Europe Germany is heading for a more inward-looking future. The vote bringing uncertainty, amid whispers the election signals the beginning of the end for Merkel. Macron though refusing to be shaken - stating he knows Merkel's response to his proposals will be courageous.

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Macron unveils radical reform plan for the EU

Tuesday, September 26, 2017 - 01:50