SPEND MORE! France asks rich countries in Northern Europe to invest in a new EU plan | World | New

But the proposals – unveiled in a four-point plan called "New Growth Pact for the Eurozone" – should not fail in Germany or Holland where previous attempts to strengthen the common currency have been totally rejected. The Mayor told the Financial Times: "Many countries in the euro area have the means to invest more. Eurozone members have not made all the necessary decisions to face a new economic or financial crisis and today they are not making the decisions necessary for growth to be at its peak. potential. "

France has been met with fierce opposition when it tried to establish a common budget for the euro area from 2021 to help vulnerable areas survive the economic downturn .

The Mayor said the idea was beginning to be put in place, but predicted difficult negotiations on an intergovernmental agreement to govern how the money would be spent and for what.

He added that in the meantime, countries such as Germany would spend more, while less competitive members of the eurozone, including France, would continue their reforms and restructuring to strengthen their public finances. .

He said: "I am concerned about the slowdown in global growth.

"Today, we can see that the US fiscal stimulus is coming to an end, we are seeing a slowdown in growth in China and Europe, especially in the euro zone, a sharp slowdown in Germany and a recession." in Italy."

The Mayor, who wants to make the EU a world power capable of facing the United States and China, called Brexit "thunder" which had constituted a systemic shock for the bloc.

He added: "We should take advantage of this departure of the British to ask us what we want from Europe.

"We should use it to bring together countries that too often feel excluded from European structures.

"It is essential to better integrate Eastern European countries, Poland and all Eastern states.

"It's the largest market in the world, the most powerful market in the world, but it's also the most open market in the world, which is clearly too open and easy to access, compared to other markets that protect themselves more. "