Berlin rejects Macron’s Sorbonne pitch on ECB reform

6 months ago 28

Germany has a “very different standpoint” on French President Macron’s proposal to expand the mandate of the European Central Bank (ECB), the German government said on Monday, casting doubt on the French leader’s vision for the EU’s future.

On 25 April, Macron delivered a much-anticipated speech at the Sorbonne in which he outlined his vision for the EU bloc, including a proposal to broaden the ECB’s mandate so that it could promote economic growth and decarbonisation alongside inflation control – a proposal which has drawn the attention of the government.

“There are individual points, as mentioned about the ECB, where we [Germany and France] continue to have very different standpoints,” a German government spokesperson told reporters when asked about the country’s stance on Macron’s speech and ideas for the ECB at a briefing Monday.

Indeed, the spokesperson said they were not aware of “any considerations” within the German government to change or expand the ECB’s mandate.

Anticipation for Germany’s reaction to Macron’s speech has been very high, as the support of the EU’s largest member remains a key factor in the potential implementation of French ideas.

Macron’s first Sorbonne speech where he laid out his vision for Europe, speech when then-Chancellor Angela Merkel was in power did not trigger an official response from the government at the time.

This time around, it is understood that both governments have been more closely synchronised on the issue, with both seemingly keen to demonstrate unity.

However, while German Chancellor Olaf Scholz (SPD, S&D) and German Foreign Minister Annalena Baerbock (Greens) both praised Macron for his speech, with Baerbock praising him for his “passion for Europe” and calling for a “stronger, more resilient, and safer Europe,” some of Macron’s key proposals like his call for higher spending and new common EU debt are notoriously unpopular with the somewhat frugal German government.

In line with the previous statements, Monday’s comments regarding Macron’s pitch thus remained general.

“What is important are [Macron’s] notes on the good Franco-German relationship (…) and that the French president has shown a great extent of energy regarding the development of the EU – those are points that we can well align ourselves with,” the spokesperson added.

(Nick Alipour | Euractiv.de)