From Meseberg to Nowhere? A Franco-German Impetus for the Eurozone
This study analyses the joint efforts by France and Germany to bring about a comprehensive reform of the European currency union. These efforts culminated in the joint Meseberg Declaration adopted in June 2018. The article contextualises these efforts with respect to the reforms realised so far and the different reform options at hand. Besides questions of economic viability and institutional deficits, the article tackles issues of political feasibility.
“From Meseberg to nowhere” was the prognosis given by Werner Mussler, economic correspondent for the Frankfurter Allgemeine Zeitung in Brussels. Commenting on the outlook for the joint declaration by the French President and German Chancellor on 19 June, following protracted negotiations at the German Government's official guest house at Schloss Meseberg, near Berlin, the journalist was critical of both the compromises it contained on strengthening the euro area and the chances of these ever being implemented.
There is no question that the negotiations on the development of the euro area come at a difficult time. However, there are still good grounds for reaching a different conclusion. Both valid economic and political reasons can be found for the reforms proposed in the declaration, the details of which have yet to be developed. Anyone broaching the subject realistically knows that negotiations on economic and monetary union have always been challenging, due to differing concepts of economic policy and divergent economic needs and interests. At the same time, the two figures responsible for the Meseberg Declaration are both exceptional political personalities whom have shown in the past that they can cope with difficult negotiations, and can achieve remarkable results – on condition that Angela Merkel remains in office.
Eileen Keller is a specialist on economic policy at the Deutsch-Französisches Institut (dfi) in Ludwigsburg. She lectures, publishes and teaches on various aspects of French and German economic and fiscal policy as well as European financial and economic integration.
This publication can be downloaded in German on the website of the Franco-German Institute : Von Meseberg nach nirgendwo? Deutsch-französische Impulse für die Eurozone. (PDF).
The French version is available on our French website: De Meseberg à nulle part ? Des impulsions franco-allemandes pour la zone euro. (PDF)
Download the full analysis
This page contains only a summary of our work. If you would like to have access to all the information from our research on the subject, you can download the full version in PDF format.
From Meseberg to Nowhere? A Franco-German Impetus for the Eurozone
Author(s)
Related centers and programs
Discover our other research centers and programs
The Study Committee on Franco-German Relations (Cerfa)
The Study Committee on Franco-German Relations (Cerfa) was created in 1954 by an inter-governmental agreement between the Federal Republic of Germany and France, in order to raise awareness of Germany in France and analyze Franco-German relations, including in their European and international dimensions. In its conferences and seminars, which bring together experts, political leaders, senior decision-makers and representatives of civil society from both countries, Cerfa develops the Franco-German debate and stimulates political proposals. It regularly publishes studies through two collections: Cerfa notes and studies as well as Franco-German visions.
Cerfa maintains close relations with the network of German foundations and think tanks. In addition to its research and debate activities, Cerfa promotes the emergence of a new Franco-German generation through original cooperation programs. This is how in 2021-2022, Cerfa led a program on multilateralism with the Konrad Adenauer Foundation in Paris. This program is aimed at young professionals from both countries interested in the issues of multilateralism in the context of their activities. It covered a wide range of themes relating to multilateralism, such as international trade, health, human rights and migration, non-proliferation and disarmament. Previously, Cerfa had participated in the Franco-German future dialogue, co-led with the DGAP from 2007 to 2020, and supported by the Robert Bosch Foundation and the Daniel Vernet group (formerly the Franco-German Reflection Group) which was founded in 2014 upon the initiative of the Genshagen Foundation.
Find out more
Discover all our analyses
France-Germany: Overcoming Differences to Strengthen European Sovereignty
The Franco-German “reset” launched with Friedrich Merz’s appointment as Chancellor in May 2025 and given concrete form at the Franco-German Council of Ministers (FGCM) in Toulon in August 2025 was intended to address the structural challenges affecting the bilateral relationship. Yet it is clear that these ambitions have only been partially translated into concrete action. Since the beginning of 2026, Franco-German relations have entered a phase in which short-term challenges have combined with deeper divergences over priorities, policy approaches, and strategic culture.
Under construction: Europe’s economic repositioning in a fragmented international order
„Under Destruction“– this was this year’s motto at the Munich Security Conference. A motto that applies both to security and economy in an increasingly fragile international system. In 2024, Mario Draghi’s report on the EU’s competitiveness rang the alarm bell: Europe is slipping behind the US and China, European companies struggle with Brussels' bureaucracy, and the internal market is too fragmented. However, two years later only about 15 % of his recommendations were implemented: the wake-up call was not heard.
Germany in the Shadow of the United States, Russia, and China – Systemic Paradigm Shifts
Since reunification, Germany has built its prosperity on an international order based on free trade, multilateralism, and geopolitical stability. This model relied on three relationships considered complementary: U.S. military protection, Russian energy supplies, and economic integration with China. For several decades, Berlin viewed these interdependencies as factors contributing to peace, growth, and security.
France and EU Enlargement: From Strategic Hesitation to a Geopolitical Shift
Paris has come a long way in its approach to enlarging the European Union. However, French support remains fragile, due in part to a lack of public support.