Distinguished guests, friends, ladies and gentlemen.
Thank you for the invitation. It is a pleasure to be here again.
In todays rapidly changing world, old certainties are no longer guaranteed. Technological advancements and trade conflicts demand our attention. Europes values and security are under pressure, and we must respond.
We are living in a crucial time. Hard security is essential for economic security. Without hard security, there can be no growth, innovation, or social protection.
Since February 2022, Ukraine has stood at Europes frontline, defending our values against Russian aggression. It is clear: Ukraine fights for themselves and for us.
There can be no economic stability and secure Europe without lasting peace in Ukraine. The outcome of the war will have a profound impact on the security of the European continent.
A peace deal must be lasting and offer real security guarantees to Ukraine. Supporting Ukraine is the best investment in our long-term prosperity and resilience.
The EU has already provided a first tranche of €3 billion in macro-financial assistance to Ukraine. These loans will be repaid with proceeds from immobilised Russian state assets.
Europe must recognize that the world has changed. From disinformation to cyber-attacks, threats to Europes economies and way of life are real and urgent.
We need to strengthen our defense and boost our defense industry. This must happen now, before it is too late.
The European Commission will publish the White Paper on the Future of Defense next month.
Today, our security more than ever depends on our economys adaptability. The good news is that the European economy has all the fundamental assets to compete successfully.
We have a well-educated and skilled workforce, a large pool of private capital, a stable legal environment, and strong social safety nets. The Single Market remains one of the EUs greatest achievements.
Despite economic resilience, Europe faces structural challenges such as productivity growth. The Draghi report provides analysis and a blueprint for improving our competitiveness.
The EU focuses on reducing excessive dependencies and enhancing our economic security.
In trade, we regret the recent tariff decisions by the US. The EU stands ready to assert its interests strongly and proportionately.
In summary, Europe must decide if we wish to be players or spectators in this new world.
We can emerge from this challenging period strong, secure, and prosperous. But that requires active action. I am determined to play my part to ensure we take action. Thank you.