Europe's new hope?

Emmanuel Macron's programme recognises elements of the German approach

The prospect that the centrist, pro-European Emmanuel Macron will become the next French president has fuelled hope that renewed Franco-German leadership of the European Union may be on the horizon. After Germany’s general election in September, it is hoped, a more stable EU could begin to make much faster progress towards unity and integration.

To that end, reforming the Euro zone seems an obvious first step — one that Mr Macron himself brings up often. But this might be more difficult than anticipated. For one thing, there are deep differences between the economic philosophies of policymakers in France and Germany.

As Markus