The French government is calling for more ambitious steps to address defense financing on a European level. As stated by Finance and Economic Minister Eric Lombard in an interview with the “Frankfurter Allgemeinen Zeitung” (FAZ), it is necessary to pursue “ambitious goals to create the conditions for our strategic autonomy.”
Minister Lombard further emphasized that all relevant financing instruments should be reviewed. He added that the idea of European debt for the financing of defense goods should not be dismissed outright. He also stressed the importance of considering the debt question in the current global economic context strategically. “Since April, the role of the dollar has changed. It is clear that there is a search for safe havens. The European economy would benefit if the euro were a more important reserve currency, which presupposes safe assets like national and European debt securities” the minister explained.
In terms of competition policy, Lombard called for a strategic rethink “in all areas” to facilitate the emergence of major players. Regarding the trade talks between the EU and the US, he reaffirmed the goal of “at least returning to the old tariffs on goods within the framework of ongoing negotiations.” He also expressed the possibility of a more extensive agreement. “If we could even achieve a zero tariff, that would be very good” Lombard said, albeit noting that this would be “very difficult” in the agricultural sector due to differing standards. “Agriculture is a very sensitive issue in France, as it constitutes a significant part of our independence and identity” Lombard commented, referring to France’s opposition to the trade agreement with Mercosur countries.