Finance Minister Lars Klingbeil calls for a “Jacques Delors Plan 2.0” at the Hertie School

On 24 September 2025, the Jacques Delors Centre at the Hertie School welcomed Lars Klingbeil, Vice-Chancellor and Federal Minister of Finance, for a keynote on the German investment agenda and the future of Europe. Speaking to students, faculty, diplomats and policymakers, Klingbeil stressed that defending and reforming the European Union was the defining political task of his generation.

In his keynote, the Minister recalled the spirit of optimism that shaped European integration under leaders such as Jacques Delors, François Mitterrand and Helmut Kohl, and contrasted it with today’s reality. “My generation must learn two things anew: we must defend Europe, against enemies from inside and outside. And we must reform Europe, so that it becomes stronger,” Klingbeil said. Russia’s ongoing war in Ukraine, Europe’s vulnerability in global trade, and its shrinking share of world GDP all point to the urgency of action.

Six priorities for a stronger Europe

Klingbeil outlined six key areas for action: investment in European public goods such as infrastructure, energy and hydrogen networks as well as research; a deeper capital markets union to help start-ups and scale-ups grow; a fully integrated single market with less bureaucracy and fragmentation; new trade agreements to keep Europe anchored in a rule-based global economy; a strategic industrial policy focussed on future technologies; and more efficient European defence financing. Europe, he warned, must not lose itself in small-scale national debates but use its collective strength.

Rekindling passion for Europe

Looking back to the 1980s, Klingbeil recalled how Jacques Delors had responded to “Eurosclerosis” with bold integration steps such as the single market and monetary union. He called for a similar ambition today: “We need a Jacques Delors Plan 2.0. There is no shortage of ideas – what we need is determination.” In this context, he also described moving impressions from a recent visit to Ukraine, where the European idea continues to inspire hope. In his view, the greatest passion for Europe today is found outside the EU – in Ukraine, Georgia, and the Balkans.

Discussion on EU budget and industrial policy

In the subsequent discussion with Johannes Lindner, Co-Director of the Jacques Delors Centre, Klingbeil addressed the EU’s multi-annual financial framework and the challenge of safeguarding common investment priorities in infrastructure, security, and digitalisation. On industrial policy, he argued for coordinated action, particularly between Germany and France, to ensure that “Buy European” does not dissolve into competing national agendas.

Telling Europe’s success story

During the Q&A session, students and guests raised issues including the capital markets union, recognition of professional qualifications, the EU’s 2040 climate goals, and migration policy. Klingbeil warned: “The status quo is our biggest enemy.” He reaffirmed the climate targets and stressed the need to tell Europe’s success story more convincingly – not only in academic settings but also to citizens in their everyday lives. Europe, he emphasised, makes its member states stronger.

Acknowledging the Jacques Delors Centre

Closing the event, Klingbeil praised the Jacques Delors Centre’s role in shaping the European debate in Berlin and thanked Johannes Lindner for his contribution in the past three years as Co-Director. The event marked Lindner’s final appearance in this role, as he will return to the European Central Bank at the end of the month. Minister Klingbeil ended his speech with a quote from Jacques Delors: “Nobody falls in love with a single market. We must ignite a new passion for Europe. The spring of Europe still lies ahead of us.”

A recording of the event is available here.

The Hertie School is not responsible for external content linked or referred to from these pages. Views expressed by the speaker may not necessarily reflect the views and values of the Hertie School.