|No. 114, June/July 2017
|Journal | Series | Blog
Emmanuel Macron wants to change the way the eurozone is run. His plan is to impress the Germans by reforming France – for example by cutting the non-wage costs of employment, lowering the state’s share of economic output and introducing Nordic-style active labour market policies. He hopes that success will give him the credibility to go to Berlin and propose a concordat on the euro and much else. However, the conservatism of Germany’s voters and politicians makes it unlikely that Macron will get very far in redesigning eurozone governance, at least in the short term.
|Economic and Financial Affairs
|Countries / Regions
|Europe, France, Germany