Macron, Merkel and the Future of the Euro

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.

• Primary Source

ESO: Background information: Macron Président: Setting Up Another Round Of Conflict On EMU Reform? (Social Europe 09.05.17, et al) http://www.europeansources.info/record/macron-president-setting-up-another-round-of-conflict-on-emu-reform/

Blog: Open Europe, 11.05.17: On Eurozone integration, France and Germany are still not on the same wavelength http://openeurope.org.uk/today/blog/on-eurozone-integration-france-and-germany-are-still-not-on-the-same-wavelength/

EurActiv, 09.05.17: Macron win bolsters European moves on globalisation, eurozone http://www.euractiv.com/section/economy-jobs/news/macron-win-bolsters-european-moves-on-globalisation-eurozone/

ESO: Background information: Merkel and Macron want a new start for the EU http://www.europeansources.info/record/merkel-and-macron-want-a-new-start-for-the-eu/

Intereconomics, Vol.52, No.4, July-August 2017: [Editorial]: Macron a Game Changer for Europe? https://archive.intereconomics.eu/year/2017/4/macron-a-game-changer-for-europe/

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