Wednesday, August 9, 2017

Macron Seeks More Clout in Brussels

According to the Financial Times, Emmanuel Macron is seeking to have Bruno Le Maire replace Jeroen Dijsselbloem as head of the Eurogroup, the committee of finance ministers who set Eurozone policy. Failing that, he'd like to see Odile Renaud-Basso become the head of the so-called Working Group within the Eurogroup. Meanwhile, he's also pushing for the creation of the post of Eurozone finance minister--a move to which the Germans may accede. Agreement on any of these proposals would signify progress toward a Franco-German entente on Eurozone policy, which is long overdue. But any decision may be delayed until after the German elections in the fall.