Macron calls for EU joint debt and 'European preference' to boost competitiveness

French President Emmanuel Macron has called for the European Union to create a new common debt capacity, often referred to as eurobonds, to fund major investments for the bloc's future. He made the pitch ahead of a key EU summit on competitiveness, arguing it's necessary to finance green and digital transitions.

Macron also warned that trade threats from the United States are 'not over' and advocated for a 'European preference' in strategic industrial sectors, framing it as 'protection, not protectionism.' The German government, however, has dismissed his push for more joint EU borrowing as a 'distraction' from other necessary reforms.