The former Prime Minister calls for mobilizing private savings via a sovereign fund to strengthen economic sovereignty in the face of international competition.
Dominique de Villepin, former Prime Minister, pleaded Thursday July 2, 2026 during the Aix-en-Provence Economic Meetings for the creation of a “large fund of sovereignty and solidarity in France” in order to “capture” the abundant savings available to the country. This intervention takes place in a context of increased global economic competition, where the question of mobilizing European and French private savings regularly comes up in public debate, particularly in the face of the power of foreign sovereign funds.
A statement of urgency in the face of global competition
In front of an audience of economists, business leaders, politicians and journalists gathered for the 26th edition of the forum, Dominique de Villepin painted a worrying picture of the international situation. According to him, “we now live in a world dominated by brute force; Europe faces predation from great empires, whether Chinese, Russian or American.” He said: “We must agree to finally become a little protectionist”, underlining the need for Europe to equip itself with new tools to defend its economic and technological interests.
The former Prime Minister insisted on the fact that the abundant private savings hosted by the European Union “are not invested sufficiently in Europe” and benefit the United States. He described these savings as “considerable”: “35,000 billion euros at EU level”. For France alone, this jackpot amounts to “6,500 billion euros of private savings”.
Dominique de Villepin therefore proposes to create a “large sovereignty and solidarity fund in France” to channel these savings towards national and European strategic investments. He declared: “We must be able to mobilize the savings of our fellow citizens.” He also lamented: “Unfortunately, it is not investing enough in Europe, it is investing a lot in the United States.”
He continued: “This is why I am pleading in particular for a large sovereignty and solidarity fund in France, but also for a security council in Europe, which could have the objective of asserting the course of European sovereignty.”
The creation of a sovereign fund is also an idea supported by Jordan Bardella, president of the National Rally, and Michel-Edouard Leclerc, boss of the homonymous channel.
Consolidate public finances to regain credibility
Dominique de Villepin, however, recalled that the mobilization of savings cannot be sufficient in itself. He insisted on the need for France to “consolidate its public finances” in order to “regain credibility” on the international scene. According to him, in the triple economic, technological and energy battle that pits the great powers against each other today, France and Europe have significant assets, but they must capitalize on them by equipping themselves with adequate tools and strengthening investor confidence.
The debates at the Aix-en-Provence Economic Meetings, which are being held from July 2 to 4, 2026, demonstrate the growing importance of these issues in the French and European political and economic agenda.
