Former French Minister and current Chairman of the National Assembly (AN)’s finance committee Eric Woerth and economist and Fondapol’s scientific council’s member Laurence Diazano wrote in the daily newspaper L’Opinion that “Europe must better defend its trade interests” against Donald Trump and “build an autonomous financial system” within ten years.
Taken between the United States and its “America First” policy and by China and its rising global power, Europe must build its economic sovereignty or otherwise risk having to systematically align with US interests. The next European Commission, said Woerth and Daziano, will have to lead three major actions.
First, build an autonomous financial system probably in collaboration with China. Then, have a European Monetary Fund in order to stabilize European and/or geographically close countries and increase its monetary clout in collaboration with the ECB. Finally, take advantage of the US trade withdrawal to gain market share, particularly in Asia.