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At least one side will end up eating its words -- and both will if they settle on a compromise.
Au contraire, most people who bother reading election manifestos will expect something of a compromise: the question is, how much influence can Macron ultimately wield with Germany and the Eurozone as a whole?
He can always makes his commitment to fiscal consolidation dependent on progress on a Eurozone budget/finance Minister. The chair of the Eurogroup could fulfil that role, and, to appease German concerns, the budget doesn't have to huge to begin with.
Spending it to help lift Greece out of a debt death spiral,to assist refugee accommodation throughout Europe, and to counter act the worst effects of Brexit would be politically popular.
It could be funded out of a Euro-wide "solidarity tax", the proceeds from UK exit or market access payments, or external tariffs in the absence of the latter. A Tobin tax on Euro currency transactions would be another option.
Macron would have to build a Eurozone consensus to overcome German and fiscal conservative opposition. That would be the real test of his leadership skills. Hollande, to my knowledge, never worked particularly hard to build a Euro wide consensus on anything.
Index of Frank's Diaries
by Frank Schnittger - Mar 6 11 comments
by IdiotSavant - Feb 28 1 comment
by Oui - Mar 4 25 comments
by Luis de Sousa - Feb 28 1 comment
by Oui - Mar 1 8 comments
by Frank Schnittger - Feb 23 20 comments
by Oui - Feb 22 30 comments
by Oui - Feb 25
by Frank Schnittger - Mar 611 comments
by Oui - Mar 425 comments
by Oui - Mar 18 comments
by gmoke - Mar 1
by IdiotSavant - Feb 281 comment
by Luis de Sousa - Feb 281 comment
by Oui - Feb 2831 comments
by Oui - Feb 25
by Frank Schnittger - Feb 2320 comments
by Oui - Feb 2230 comments
by Frank Schnittger - Feb 2030 comments
by Oui - Feb 2024 comments
by Frank Schnittger - Feb 1915 comments
by Oui - Feb 197 comments
by Oui - Feb 181 comment
by Oui - Feb 1796 comments
by Oui - Feb 168 comments
by Frank Schnittger - Feb 1523 comments
by gmoke - Feb 142 comments
by Frank Schnittger - Feb 1413 comments