BERLIN (Reuters) – German Chancellor Olaf Scholz and France’s President Emmanuel Macron warned in a joint opinion piece for the Monetary Instances that the European Union needed to make dramatic efforts to enhance its competitiveness or threat seeing its way of life undermined.

Among the many reforms wanted have been additional efforts to decarbonize the financial system, whereas leaving the exact technique of doing so up to member states, they wrote, in what appeared to be a lift for the French nuclear energy trade.

The leaders additionally urged European Union member states to finish the one monetary market by introducing frequent insolvency, tax and funding frameworks.

“We can’t take for granted the foundations on which we have built our European way of living and our role in the world,” they wrote within the article, because of seem in Tuesday’s version of the newspaper.

“Our Europe is mortal, and we must rise to the challenge.”