In a recent interview with Le Monde, French President Emmanuel Macron emphasized the need for Europe to bolster its own industrial strength against the dominance of the dollar. He suggested that the European Union should create funding mechanisms similar to Eurobonds to enhance mutual lending among member states, thereby providing a counterweight to the financial power of the United States. Macron believes that Europe is significantly under-leveraged compared to China and the US, particularly in the ongoing technology race, and that not utilizing these lending opportunities would be a mistake.

Macron also highlighted the importance of discussing the Future Combat Air System (FCAS) project with German Chancellor Friedrich Merz. This joint initiative, involving France, Germany, and Spain, aims to develop a new generation of European fighter jets, yet it is facing delays in progress. By addressing the issues surrounding FCAS, Macron hopes to foster greater cooperation and accelerate development within the European defense sector, which he views as critical to ensuring European sovereignty and competitiveness.

The discussions around enhancing Europe's industrial capabilities and defense projects come at a crucial time when geopolitical tensions are rising. With both the US and China expanding their technological and military advancements, Macron's call to action reflects a broader sentiment within Europe to not only defend its economic interests but also to secure its position in the global marketplace. This shift towards stronger European integration and independence may redefine how countries within the EU manage industrial policy and collaboration going forward.