Macron a Game Changer for Europe?

Macron a Game Changer for Europe? Editorial DOI: 10.1007/s10272-017-0672-9 Macron a Game Changer for Europe? The election of the youthful Emmanuel Macron as President of France has re-awakened the hope that the European Union could fi nally start moving forward again. Reforming the euro area seems an obvious fi rst step. However, this might be more diffi cult than com- monly anticipated. Much has been made of the prospect of a new era of Franco-German leadership. However, the German part of it is unlikely to change. Moreover, France and Germany can only lead if other member states are prepared to follow. This might be much less likely than widely assumed. The fi rst key element is thus that one half of the Franco-German “couple” has not changed. Germany is likely to retain its chancellor after the elections later this year. More- over, Germany’s interests and its perception of the EU’s problems have not changed. This Franco-German discord was already visible a quarter of a century ago, when the foundations for the euro were laid in the Maastricht Treaty. At the time, the main problem was how to tame infl ation. The German solution, supported by the consensus of the aca- demic research, was to create http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Intereconomics Springer Journals

Macron a Game Changer for Europe?

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Publisher
Springer Berlin Heidelberg
Copyright
Copyright © 2017 by ZBW and Springer-Verlag GmbH Germany
Subject
Economics; Economic Policy; European Integration; Social Policy; Labor Economics
ISSN
0020-5346
eISSN
1613-964X
D.O.I.
10.1007/s10272-017-0672-9
Publisher site
See Article on Publisher Site

Abstract

Editorial DOI: 10.1007/s10272-017-0672-9 Macron a Game Changer for Europe? The election of the youthful Emmanuel Macron as President of France has re-awakened the hope that the European Union could fi nally start moving forward again. Reforming the euro area seems an obvious fi rst step. However, this might be more diffi cult than com- monly anticipated. Much has been made of the prospect of a new era of Franco-German leadership. However, the German part of it is unlikely to change. Moreover, France and Germany can only lead if other member states are prepared to follow. This might be much less likely than widely assumed. The fi rst key element is thus that one half of the Franco-German “couple” has not changed. Germany is likely to retain its chancellor after the elections later this year. More- over, Germany’s interests and its perception of the EU’s problems have not changed. This Franco-German discord was already visible a quarter of a century ago, when the foundations for the euro were laid in the Maastricht Treaty. At the time, the main problem was how to tame infl ation. The German solution, supported by the consensus of the aca- demic research, was to create

Journal

IntereconomicsSpringer Journals

Published: Aug 10, 2017

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