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Macron is putting French banks in the game with plans to transform Europe

President Emmanuel Macron said he would be open to a major French bank being taken over by a European Union rival, to promote the deeper financial integration he sees as crucial to the bloc’s future prosperity.

“Acting like Europeans means that as Europeans you need consolidation,” Macron said in an interview with Bloomberg editor-in-chief John Micklethwait on the sidelines of the Choose France investment summit in Versailles, near Paris. “We must now open this box and deliver a single market approach that is much more efficient.”

As Europe comes to terms with Russia’s war in Ukraine and the steady deterioration of the global trading system, Macron is trying to convince his EU partners to embrace what he sees as a transformative reform program to make the EU a more united and powerful country to make. economic strength. Only by becoming smarter in protecting its interests, cutting back on regulations within the single market and unleashing the bloc’s financial firepower, Macron argues, does the EU have a chance to take on China and the USA

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