Such a policy would it be able to be a turning point in the policy of the euro area, to make it evolve into "less austerity and more growth," as the French president said? Nothing is less certain. Strengthening the "economic governance" seems now operating. First, because this instance is largely already in place with the Eurogroup. Then, because the coordination of economic governance was also largely imposed in the decisions made by the European Council and the Eurogroup. It's still the reason why the austerity has been implemented in many European countries and the entire euro zone into recession. In other words, the problem of European politics is not institutional, it observes the balance of power within these institutions.
However, France is not in a strong position. The presentation by the President of the Republic has made its European influence was from this point of view, visionary. He "claimed" jumble lower rates, the bailout of Greece, the change in the policy of the ECB, the banking union. In fact, every time, it is the decision of Germany, under pressure from the markets or German voters, which was decisive. The ECB on Greece, a little less on the banking union, France was inaudible or discrete. The Cypriot case was a caricature of this view. However, as it will be so, all instances of European decisions will be implemented, they will only reflect more or less force the position of Berlin. It is difficult to see how any case, today, an instance of European governance would change European politics.
The same should be done on the proposal for a broader EU budget, leading to a "borrowing clean", ie Eurobonds. The project "European Energy Community" must be integrated into this proposal as to be economically efficient, it will establish a "socialization" means on the subject. But again, the battle has already been lost in the discussion on the budgetary framework where Angela Merkel and David Cameron have joined forces to fight the same proposal. That same Thursday, a few hours before the speech by Francois Hollande, Merkel again showed how she felt close to David Cameron telling DÃ¼sseldorf he "should not be too quick to criticize the British, because we can consider all the means improve the EU. "In other words, the London-Berlin axis in the European budget is good. On Eurobonds, the project returns to the objectives of the French government after being buried in June by Jean-Marc Ayrault. But there is no more operative: Germany rejects, although SPD intends to defend the idea. A majority of Germans do not want to hear and reject the "transfer union" that wants to Paris. close the bank, there will therefore be no Eurgroupe.
Remains initiative for youth employment is already being prepared in Brussels. But it is hard to believe that 3 or 6 billion will reduce a phenomenon which in some countries is considerable proportions. The problem of course is far from being the only one in this area that is also within cultural practices and especially growth prospects. To act on youth employment, it must first provide opportunities for businesses. Otherwise it will be just a plaster. However, as we have seen, the French president projects provide little hope for a growth initiative.
The French president said finally want to give a "content" and "ambitions" in Europe. His proposals seem far from being able to afford it. In fact, wanting to keep a balance between "serious budget" and "growth", wanting to spare Angela Merkel and Germany, France can really challenge the "political problem" that the president has identified.