Thread by @MFratzscher

The reply by A. Kramp-Karrenbauer @akk to Macron on Europe is important and is likely to shape much of the European debate in Germany. Here is my take and interpretation... #in 1/n

welt.de/politik/deutsc…

1. AKK is a committed European, who understands the need for closer cooperation and integration. She calls Europe a “Sehnsuchtsort” - an ideal place which many people in the world are longing for. #in 2/n

2. AKK takes the same line as the German government on European integration: risk reduction first - stressing “own responsibility” and no “Haftung” (no sharing of liabilities), no European social security system, no centralization in general. 3/n

3. AKK stresses the need to have a “single market for banks”, while stating the need for European banks to provide financing to European companies.

Open Q: does that mean a proper banking union or rather the need for European champions in the banking industry? 4/n

4. AKK underlines the need for proper competition policy, while also stressing the need to protect European companies against protectionist economies elsewhere.

Open Q: is she for or against changes in European competition policy as proposed by Le Maire and @peteraltmaier ? 5/n

5. AKK recognizes the need for better climate policies, while protecting jobs and industry.

Open Q: does she want more progress on climate policies and does she want Germany to stick to its climate commitments, or not? 6/n

6. AKK wants a single EU seat at the UN Security Council (i.e. France to share its seat).

Open Q: If European unity is so important (which I agree with), why is Germany refusing a single seat at other key international organizations, such as the IMF or the World Bank? #in 7/7