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Mr Macron has proposed a common fiscal policy, a joint finance minister, a eurozone debt instrument, and completion of the banking union.

He owes his voters an answer to the question of what he would do if, as is likely, Germany replies to his four proposals with: nein, nein, nein and nein.

Wolfgang Münchau, FT 30 April 2017

Mr Macron is the opposite of a souverainiste: he wants a fiscal and political union for the eurozone because he recognises that the only nation state that benefits from the current political arrangements in Europe is Germany, not France.

In that sense, he is the polar opposite of Marine Le Pen, leader of the rightwing National Front. 

Mr Macron wants to make the eurozone work; 
Ms Le Pen wants to destroy it.

Wolfgang Münchau, FT 1 January 2017

Ms Merkel does not say “no” to eurozone bonds. 
She says: “Not without treaty change.” 
The German constitutional court in Karlsruhe would never allow Germany’s sovereign guarantee to be given to its eurozone partners 
without them submitting to effective and centrally budgeted discipline.

Financial Times 31 May 2012

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