Update: Macron Calls for More Unified Europe; EMU Budget

--Adds Detail and Quotes Throughout

By Jack Duffy

     PARIS (MNI) - French President Emmanuel Macron called Tuesday for a

stronger, more integrated Europe in a speech that was long on vision but short

on detail.

     Macron, as expected, called for a budget "at the heart of Europe, at the

heart of the Eurozone," controlled by a single finance minister and parliament,

but he gave little indication of how large the budget should be.

     "A European budget can only go forward with strong political leadership, a

common minister, and demanding parliamentary scrutiny," Macron said.

     The 39-year-old president spoke with an eye on Germany, which is forming a

new government expected to be less enthusiastic about European integration

following Sunday's election. He sought to reassure Germany that deeper ties

would not cost its taxpayers more. 

     A common budget "can only be undertaken with greater responsibility which

starts with respect for the rules and implementation of indispensable reforms,"

Macron told students at Paris-Sorbonne University. He said the goal of tighter

integration "was not to mutualise past debts."

     Macron spoke for more than 90 minutes and ranged widely from defence and

migration to agriculture and tax policies.

     On corporate taxes, he said countries must bring their corporate tax rates

into the same band by 2020 or see their access blocked to European structural

funds.

     Leaders in Brussels were quick to praise Macron's European ambitions.  

     "A very European speech from my friend Emmanuel Macron," European

Commission President Jean-Claude Juncker said on Twitter. "Europe needs courage.

Thank you for your support for the work of the EU institutions."

--MNI Paris Bureau; tel: +33 1-42-71-55-41; email: jack.duffy@marketnews.com

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

[TOPICS: M$E$$$,M$F$$$,M$X$$$,MC$$$$,MFF$$$,MFX$$$,MGX$$$]