Germany has formulated a plan to deal with Russia's proposition of establishing a pan-European exchange

Germany will formulate a "comprehensive action plan" in response to the hybrid war launched by Russia. German Chancellor Merz also advocated for the establishment of a pan-European exchange to prevent Europe from becoming an "economic vassal" of Asia and the United States.

Mertz told Parliament on Thursday (October 16) that the newly established National Security Council will hold its first meeting "in the coming days" to formulate an action plan to deal with the "hybrid" war launched by Russia.

Mertz referred to the mysterious drone flight incident that caused chaos at European airports and accused Russian President Putin of subjating Europe to a "hybrid attack". AFP quoted him as saying: "We will protect ourselves from these attacks now and in the future."

He added, "Therefore, our newly established National Security Council is formulating a comprehensive action plan to defend against hybrid threats."

Mertz also accused Russia of conducting sabotage, cyber attacks and espionage activities, saying, "Russia is attempting to use hybrid warfare tactics to more brutally undermine the stability of Germany and even Europe."

He also told lawmakers that this was particularly related to the far-right Alternative for Deutschland (AfD), "they use targeted disinformation and espionage - even from within you." He was referring to pro-Moscow Alternative for Germany (AFD) lawmakers.

So far, no member of the Alternative for Germany has been convicted of conducting espionage activities for Russia, but some have been accused of having improper ties with Russia.

Mertz advocated for the joint establishment of a Euronext

Mertz also called for the establishment of a pan-European stock exchange as one of the broader measures to help businesses cope with competition from Asia and the United States.

Bloomberg quoted Mertz as saying in a speech at the Berlin Parliament that European companies need "a broad and deep enough European capital market to raise funds more efficiently and quickly."

The conservative leader cited reports by former Italian Prime ministers Mario Draghi and Enrico Letta, which emphasized the need to take urgent measures to narrow the productivity growth gap with global rivals. He reiterated his disappointment over the choice of companies such as German biotech firm BioNTech SE to list in New York.

Mertz told the members of the Bundestag, "Completing these tasks with new vitality is of vital importance to the future of our country and all European countries." He pointed out: "This concerns our prosperity and whether Europe will continue to play a role in the global economy in a few years or become a vassal of the major economic centers in Asia and the Americas."

For a long time, the fragmented stock exchange structure in the European Union has been regarded as a factor hindering growth and innovation, especially in the technology sector, where it is more difficult for enterprises to obtain funds than their international competitors.