The Macron Moment
French President comes out to say what a big chunk of Europe wants to say and what 99% of them are afraid to.
Last on Philoinvestor
Why I don't like Transocean. Link.
Downside at MRNA. Link.
When ARKK unwind. Link.
Apple's Microsoft moment. Link.
Why are stocks not dropping? Link.
French President comes out to say what a big chunk of Europe wants to say, and what 99% of them are afraid to.
Speaking with POLITICO and two French journalists after spending around six hours with Chinese President Xi Jinping during his trip, Macron emphasized his pet theory of “strategic autonomy” for Europe, presumably led by France, to become a “third superpower.”
He said “the great risk” Europe faces is that it “gets caught up in crises that are not ours, which prevents it from building its strategic autonomy.”
“The paradox would be that, overcome with panic, we believe we are just America’s followers,” Macron said in the interview. “The question Europeans need to answer … is it in our interest to accelerate [a crisis] on Taiwan? No. The worse thing would be to think that we Europeans must become followers on this topic and take our cue from the U.S. agenda and a Chinese overreaction.”
From Politico. Link.
From my “Is the Euro here stay?” essay.. 👇
And now it’s clear that these “differences” are causing rifts — but at the same time big change. Macron and France are quickly filling the vacuum that Merkel’s Germany left — and with their proclamations de facto announcing the multipolar world.
Macron et al. learned from the war in Ukraine that global conflicts are not to the interests of Europe. And now they are trying to 1) stop the current one 2) prevent the next one and 3) save Europe!
The Backlash
And of course Macron was treated with a strong push back from those in Europe that strongly communicate absolute solidarity with the US and that push for a worsening of relations with China, rather than the opposite.
With EU politicians such as these, do we really expect the EU to pass the test of time as problems only increase going forward? It remains to be seen how Europeans will vote, but one thing is for sure — the rifts are still here.
Denial & Existentialism
Collectively the EU is still afraid to take matters in its own hands and manage Europe for the sake of Europe. They are mostly reacting to events, rather than being proactive in direction and planning.
Macron said that Europeans, struck with panic, are America’s followers.
So if the EU is America’s follower, and America is following its President Joe Biden… then we are all following Joe Biden. Thoughts? 🤔
STRATEGIC AUTONOMY? 🇪🇺
What’s required for the EU to actually take control of its own fate and carve a different direction? — A direction that guards its OWN interests, rather than the interest of some empire that is way past its peak, lest it risks going down with it?
Some quick and dirty thoughts:
Increased vote focused on a stronger more self-reliant Europe.
The need to take down politicians and rulers like Von der Leyen and her kind.
Shifts in national votes that end up affecting EU politics.
EU willingness to strike deals with BRICS etc., away from the influence of other actors.
Increased military spend and planning by EU countries, not for increased military aggression — but to act as a deterrent.
…Defense stocks anyone?
P.S. To an extent the above are already happening. This is going to be an interesting decade.
Sincerely,
Philo 🦉