{"id":726971,"date":"2026-02-11T12:21:29","date_gmt":"2026-02-11T12:21:29","guid":{"rendered":"https:\/\/www.europesays.com\/fr\/726971\/"},"modified":"2026-02-11T12:21:29","modified_gmt":"2026-02-11T12:21:29","slug":"pourquoi-le-plan-de-macron-rassure-les-marches-mais-braque-lallemagne","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/fr\/726971\/","title":{"rendered":"pourquoi le plan de Macron rassure les march\u00e9s mais braque l&rsquo;Allemagne"},"content":{"rendered":"<p>C&rsquo;est la d\u00e9claration qui tourne en boucle dans les m\u00e9dias \u00e9conomiques fran\u00e7ais et europ\u00e9ens depuis mardi. \u00ab\u00a0C&rsquo;est le moment pour l&rsquo;UE de lancer une capacit\u00e9 commune d&rsquo;endettement, \u00e0 travers des eurobonds\u00a0\u00bb, a plaid\u00e9 le pr\u00e9sident de la R\u00e9publique, dans <a href=\"https:\/\/www.lemonde.fr\/economie\/article\/2026\/02\/10\/emmanuel-macron-c-est-le-moment-pour-l-union-europeenne-de-lancer-une-capacite-commune-d-endettement-via-des-eurobonds_6666101_3234.html\" target=\"_blank\" rel=\"nofollow noopener\">une interview<\/a> accord\u00e9e \u00e0 plusieurs journaux europ\u00e9ens, dont Le Monde. Faute de quoi le Vieux Continent risque selon lui d\u2019\u00eatre \u00ab\u00a0balay\u00e9\u00a0\u00bb de plusieurs secteurs \u00e9conomiques strat\u00e9giques.<\/p>\n<p>Cette id\u00e9e d&#8217;emprunt commun europ\u00e9en pour financer des investissements d&rsquo;avenir a longtemps \u00e9t\u00e9 taboue, voire rejet\u00e9e cat\u00e9goriquement par les pays de l&rsquo;UE. Mais ces derni\u00e8res ann\u00e9es, l&rsquo;UE s&rsquo;est convertie \u00e0 ce genre de v\u00e9hicule financier, soit pour financer la relance \u00e9conomique post-Covid (750\u00a0milliards d&rsquo;euros), le r\u00e9armement (150\u00a0milliards d&rsquo;euros) ou encore l&rsquo;aide \u00e0 l&rsquo;Ukraine (90\u00a0milliards d&rsquo;euros).<\/p>\n<p>Un emprunt commun politiquement correct&#13;\n<\/p>\n<p>Le pr\u00e9sident fran\u00e7ais \u00e9value les besoins d\u2019investissements publics et priv\u00e9s dans l\u2019UE \u00e0 \u00ab\u00a0quelque 1\u00a0200\u00a0milliards d\u2019euros par an\u00a0\u00bb en additionnant les n\u00e9cessit\u00e9s dans \u00ab\u00a0les technologies vertes et num\u00e9riques\u00a0\u00bb et \u00ab\u00a0la d\u00e9fense et la s\u00e9curit\u00e9\u00a0\u00bb.<\/p>\n<p>Mais la vraie question est\u00a0: de quel type d&#8217;emprunt obligataire parle Emmanuel Macron\u00a0? La r\u00e9ponse est sensible tant les pays europ\u00e9ens dits \u00ab\u00a0frugaux\u00a0\u00bb, Allemagne et Pays-Bas en t\u00eate, l&rsquo;attendent au tournant. \u00ab\u00a0Que les choses soient claires, il ne s\u2019agit en aucun cas de mutualiser de la dette pass\u00e9e. Qui plus est, les march\u00e9s demandent des actifs s\u00fbrs et liquides\u00a0\u00bb, r\u00e9pond le dirigeant fran\u00e7ais dans l&rsquo;interview.<\/p>\n","protected":false},"excerpt":{"rendered":"C&rsquo;est la d\u00e9claration qui tourne en boucle dans les m\u00e9dias \u00e9conomiques fran\u00e7ais et europ\u00e9ens depuis mardi. \u00ab\u00a0C&rsquo;est le&hellip;\n","protected":false},"author":2,"featured_media":726972,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[1587],"tags":[5734,11,672,28036,1804,1805,1803,33,1777,81692,674,1801,3442,11514,635,12,5355,45945,1802],"class_list":["post-726971","post","type-post","status-publish","format-standard","has-post-thumbnail","category-allemagne","tag-5734","tag-actualites","tag-allemagne","tag-braque","tag-bundesrepublik-deutschland","tag-de","tag-deutschland","tag-economie","tag-eu","tag-eurobonds","tag-europe","tag-germany","tag-lallemagne","tag-macron","tag-marches","tag-news","tag-plan","tag-rassure","tag-republique-federale-dallemagne"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@fr\/116051973606072086","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/fr\/wp-json\/wp\/v2\/posts\/726971","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/fr\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/fr\/wp-json\/wp\/v2\/comments?post=726971"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/fr\/wp-json\/wp\/v2\/posts\/726971\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/fr\/wp-json\/wp\/v2\/media\/726972"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/fr\/wp-json\/wp\/v2\/media?parent=726971"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/fr\/wp-json\/wp\/v2\/categories?post=726971"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/fr\/wp-json\/wp\/v2\/tags?post=726971"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}