French Finance Minister Bruno Le Maire outlined, on Monday 17 January, the issues that EU leaders are expected to discuss at the extraordinary EU summit on 10-11 March.
We need to “build a new European prosperity”, taking into account the experience of the Covid-19 pandemic, said the current president of the Ecofin Council on his arrival at the Eurogroup in Brussels. This, he said, requires “more investment, more justice and more innovation”.
In an interview with several European newspapers, the French minister mentioned the following sequence at the summit - the location of which has yet to be decided. At lunch, the EU27 will first discuss how to ensure Europe’s independence in relation to China and the United States and what policies are needed to prepare Europe for the challenges of 2030.
“We want to examine all aspects: taxation policy, fiscal policy, supports to our industries, growth, investments, new technologies and the green transition”, he said.
A second working session will be devoted to the financial sector and its capacity to “finance innovation”, because, according to the minister, “there is a lack of funding for the largest investments in biotech, artificial intelligence, cloud”, against the backdrop of the completion of the banking union in the euro area and the rise of the capital markets union.
A third working session will be devoted to risk-taking. “I fear that the reluctance to take risks and innovate in Europe will jeopardise our growth”, Mr Le Maire said, announcing the participation in the workshop of the CEO of Covid-19 vaccine manufacturer Moderna, Stéphane Bancel.
A final session will address the climate and digital transitions, including how to avoid widening inequalities in the process. (Original version in French by Mathieu Bion)