To achieve this, we must all assume our responsibilities, which is why in France we have begun unprecedented reforms — I had announced them, and the government is now implementing them. Reforms in the labour market, vocational training and financing the economy will allow us to create growth and employment and to do what we need to do in France. Because no one would listen to us for a second if our European ambitions were merely a means of fixing our domestic problems. That is not their purpose, and in light of what we are doing in France, I will not allow anyone in Europe say that France now has no legitimacy to propose measures. We are making reforms, we are changing the face of our country, but we are doing so with a European ambition. I have no red lines — I only have horizons.

And I am shouldering and will continue to shoulder France’s responsibility, because it is in the interests of France and Europe, but we also need common rules and instruments. We need convergence and stability through national reforms, but also by coordinating our economic policies and a common budget. If we want to reduce our differences and develop our common goods — everything I have just mentioned, security, protection in the context of migration, digital transition, ecological transition, a genuine development and partnership policy — these common goods, foremost among which is our currency, must be financed. And we therefore need more investment, we need the means to provide stability in the face of economic shocks, as no state can tackle an economic crisis alone when it no longer controls its monetary policy. So for all these reasons, yes we need a stronger budget within Europe, at the heart of the eurozone.