France's Macron says globalization is going through a major crisis

"Let us not be naive, globalization is going through a major crisis and this challenge needs to be collectively fought by states and civil society in order to find and implement global solutions," he said at the World Economic Forum in Davos, Switzerland on Wednesday.

Macron was tipped as the European leader to watch at the Forum, particularly as he appears to be the strongest leader in the region at the moment while Germany's Chancellor Angela Merkel continues in her long-running attempt to form a coalition government with a rival party.

"The core strategy for me in the coming years and especially for this year is to manage to deliver a new foundation for our Europe," he said. Issues surrounding energy, migration, digital and investments need to be improved, he warned, but added that Europe had values it could offer to the world.

"I don't want to say it's impossible but we need more ambition to deliver on these critical issues. We need to change our methodology and to not have to wait for everyone around the table to be ready to move forward," he said.

Source: Bloomberg Pro Terminal

Trader Bozhidar Arabadzhiev

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