"The transatlantic alliance is falling apart" - German Finance Minister: More European patriotism is needed
German Finance Minister Klingbeil called for a new era of "European patriotism" in defense of the continent's economic interests, proposing that companies receiving state aid be forced to keep jobs in Europe and that public procurement give priority to goods produced in Europe.
Speaking at a lecture at the German Institute for Economic Research DIW Berlin on Wednesday, Lars Klingbeil said Europe must fundamentally rethink its approach as traditional alliances disintegrate and trade is increasingly being weaponized.
"We need more European patriotism," Klingbeil said. "That means when we make public investments, we use European goods."
"The transatlantic alliance is disintegrating," Klingbeil said, noting that Trump's National Security Strategy shows the US is "moving away from Europe politically and culturally."
The finance minister argued that trade is increasingly being used as a weapon, putting pressure on Germany's export-oriented economy.
"We need to become stronger and more sovereign, so that we don't become the pioneers of the great powers," Klingbeil said. "Those who believe that we can simply export our way out of the current situation underestimate the turmoil that is unfolding."
Klingbeil outlined a strategy focused on strengthening European unity, diversifying trade partnerships beyond the US, and protecting European markets from unfair competition.
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