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In response to US subsidy program: Macron promotes action plan "Made in Europe"


With simpler procedures and massive financial aid, France wants to enable more investments in the EU. The plan should be intended as a counterweight to the US subsidy law, which is worth billions.

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Emmanuel Macron, French President: France calls for simpler investment rules


Mohammed Badra / dpa

France wants the EU to relax its state aid and financing rules for companies.

The Élysée Palace announced that President Emmanuel Macron was still discussing a French “Made in Europe” action plan with EU Commission President Ursula von der Leyen in Paris on Monday.

Macron is concerned with simplifying the rules and procedures for important projects of European interest, as well as state aid and new financing for investments.

France is expecting the Commission's proposals before the next euro summit in early February, it said from the Élysée.

France is planning a realignment of EU industrial policy, the news portal Politico reported.

Among other things, dependencies in key sectors should be reduced.

For example, the Union should set common production targets to be achieved by 2030.

Joint borrowing

According to the French, part of a "Made in Europe strategy" should be a new fund to provide the necessary financing for all EU countries, the "Handelsblatt" reported.

In a first step, funds from existing EU programs such as the Corona aid package could be reallocated.

Paris is also proposing a financing instrument that could pave the way for joint borrowing.

US President Joe Biden signed a law in August that provides for billions in investments in climate protection and social affairs.

According to the Brussels Commission, this puts EU companies at a disadvantage compared to their US competitors.

Europe fears production relocations and job losses.

France therefore insists on a united and strong presence of the EU in the economic competition with the USA and has called for steps to give preference to European companies.


Source: spiegel

All business articles on 2023-01-16

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