Philippe Legrain lauds Emmanuel Macron's "ambitious, visionary speech" this week, setting out plans to rebuild a "sovereign, united, and democratic" Europe - amid fears that a new coalition government in Berlin could limit his objectives. Macron has a lot on his plate - to promote the "sense of allegiance to the idea of Europe itself" - as a way to take on the "tide of xenophobic nationalism;" to call for a joint EU defence force for closer cooperation on security, migration, environment etc; and most of all to strengthen the eurozone and deepen EU integration. Yet on "fixing the eurozone, his proposals were disappointing."

Although Angela Merkel had in the past cautiously warmed to Macron’s radical overhaul of the eurozone, she faces new challenges after Sunday's election, because she needs to rely on smaller parties to form a coalition government, after the redrawal of the Social Democrats. The far-right, anti-EU party, the AfD has been emboldened by its big win, but the new third largest party will not be invited to form a coalition government with Merkel.

While the Greens - one of Merkel's potential coalition partners - are in principle closer to some of Macron’s views, the other partner, the pro-business Free Democratic party (FDP) could create problems for Macron’s plans for deeper integration of the eurozone with a shared budget and finance minister. The FDP pursues a laissez-faire doctrine and embraces free-market economy, saying the state should interfere as little as possible in all aspects of life.

Christian Lindner, the FDP leader, is critical of Macron’s ideas for eurozone governance, and would be a fierce opponent of a more integrated eurozone with its own budget, "funded by corporate-tax revenues reform plans." He said the idea was "unimaginable," because it would mean that Germany had to pay for bills left unpaid in other states, naming France and Italy. With the FDP as a partner and the AfD running amok in parliament, the prospect of Merkel selling deeper European integration to her coalition and the wider public seems uncertain.

Macron makes a "powerful, postivie case" for a "renewed" Europe, and he is right about redtape. The bloc "often seems remote, uninspiring, and ineffectual," and his profound transformation of the EU deserves support. Moreover he sees the importance of education and innovation to help citizens "adapt to a changing world," because the genie globalisation can't be put back in the bottle. An enlightened and competitive Europe will protect its citizens from far-right populism, and inspire them to resist Russian revanchism and fight Islamist terrorism.

Macron said each EU member state would need to "hold democratic conventions to debate citizens’ priorities" and "give" Europe back to its disgruntled citizens, winning back their trust and support. He suggested a bloc moving forward at differing speeds could allow those "willing governments" to integrate "faster," suggesting the UK may “one day find its place again”. His vision is a far cry from Jean-Claude Juncker's reckless call for a closer union at all costs.

The author says "the ball is now in Germany’s court" and much depends on whether there will be a "revitalized Franco-German engine driving the process forward." Given the fragmented landscape in German politics after the election, there is fear that Merkel may be too preoccupied with domestic affairs that she might not be able to follow through with her commitment to revamp the European project.

Should Macron fail, there is a risk that "Europe could very well succumb to nationalism.... That would be devastating for Germany, a country whose economic success, political identity, and security are based on a strong, functioning EU." Even though Macron is the "most pro-German French president imaginable," he faces a Herculean task at home to implement the labour-market reforms and boost growth, placing himself at the mercy of Germany. It remains to be seen whether the Germans will put long-term EU interests ahead of short-term domestic gains. Berlin would be "committing a monumental strategic blunder if it did not engage seriously with his proposals." Merkel is sensible and pragmatic. The world is now watching how she will manage the new situation.