“Check against delivery”

 

President Metsola,

Honourable Members,

This weeks European Council is about facing the reality of the moment. The reality of a world that has become dangerous and transactional. A world of wars. A world of predators. The reality of this world means we, Europeans, must defend ourselves and we must depend on ourselves. We have been living in this world for some time. Even before the biggest wake-up call of all, Russias illegal invasion of Ukraine in February 2022. Yesterdays peace is gone. We have no time to indulge in nostalgia. What matters is – how we confront today. We, Europeans, cannot afford to let the worldviews of others define us. None of us should be shocked by what others say about Europe. But let me say this, it would not be the first time that assumptions about Europe were shown to be outdated. And it would not be the first realisation that the postwar world order is changing beyond recognition. The National Security Strategy is right to say: ‘Europe has been losing share of global GDP – down from 25% in 1990 to 14% today. But what is not written – is that the figures for the USA are on the same path. From 22 % in 1990 down to 14% today. So, this is not a story of an economy on one side of the Atlantic or the other. This is the story of the shift in the world economy. If you take China alone, their share of global GDP went up from 4% in 1990 to 20 % today. This is why the United States has been clear for some time about its shifting strategic interests and priorities as China rises. The point I am making is: This Strategy is not the cause of the disruption that Europe is facing in the world. It is a symptom of the reality of todays world. So our task at this weeks Summit is to show that we are focused on our strategic interests and our priorities. I want to repeat what I said in this very spot during my State of the Union address – this is Europes independence moment.

Honourable Members,

Ever since we started using this term – independence – many have been sceptical about what that entails. Is this even realistic? Just look at what we have already done. From defence to energy, we have made the impossible possible as part of our new reality. And we are ready to do more. Because in our independence, we make ourselves stronger. A stronger Europe is a stronger partner, not just to promote, but to guarantee a safer world.

Let us look at the progress we have made. We are approaching a new era, Europes energy independence from Russia. And this House has been a leader on this from day one. I thank you. Your efforts have paid off. Because thanks to REPowerEU, Russian gas imports – LNG and pipeline – are down from 45% at the beginning of the war to 13% today; coal imports, from 51% to now zero; and on crude oil, from 26% to 2%. All this means we are going to phase out Russian fossil fuels for good, forever. Just a few years ago this was unthinkable. But we acted, and we are earning our independence from Russia. This is not a coincidence. This is hard work. But it was driven by what makes us European. Our sense of purpose. Our union. Our political will. We now have our template for the way forward. Whether it be on critical raw materials with our RESourceEU Plan, or on diversification and strengthening supply chains through ambitious trade agreements from Latin America to the Indo-Pacific. Europes era of independence must be unstoppable.

But we have more work to do. We have to go further, and we must move swiftly. Whether it is for our security, our economy, our democracy. And that is particularly important when it comes to defence and security. The bottom line is simple – Europe must be responsible for its own security. This is no longer an option. It is a must. We know the threats that we face, and we will confront them. This means we need to be ready. We have to develop and deploy new capabilities so that we can fight a modern hybrid war. Here again, we are moving mountains. After decades of under-investment, we are turning a corner. We are transforming our defence industrial base into one that can deliver cutting-edge technologies and fast mass production in the cauldron of war. This year, we have done more for defence than in the last decades. Over the last 10 years, we invested EUR 8 billion in the defence fund. This year we enable up to EUR 800 billion of investment until 2030. And we have seen how oversubscribed our SAFE programme has been – with the demand from 19 Member States far outstripping the EUR 150 billion on the table. And Member States are already asking for a new round of SAFE. This shows our European commitment to our European security. And this surge is not only about defence. It is about our freedom, our prosperity and our independence.

And there is no more important act of European defence than supporting Ukraines defence. The next days will be a crucial step for securing this. It is up to us to choose how we fund Ukraines fight. We know the urgency. It is acute. We all feel it. We all see it. Because just as peace negotiations are stepping up, so is the intensity of Russias barrage of attacks. But Russia does not have just Ukraine in its sights. It is escalating its operations on EU territory. And it has moved to a full war-time economy. This is a direct threat to Europes national and economic security.

The IMF and our estimates show that Ukraines needs are just over EUR 137 billion in 2026 and 2027. Europe should cover two-thirds. And this is not just about numbers, this is also about strengthening Ukraines ability to secure a real peace – one that is just, one that is lasting, one that protects Ukraine and Europe.

And it is also about ramping up the cost of war for Russia. This is why I proposed two options for reparations: Based on the assets and based on EU borrowing. Last week we agreed on the sustained immobilisation of Russian assets. This is a decisive step that sends a strong political message. It means that the Russian assets will remain immobilised until we decide otherwise, until Russia stops the war and duly compensates Ukraine for all the damages done. With the assets immobilised indefinitely, we can turn this into a real game changer for Ukraine and for Europe.

Honourable Members,

We will speak a lot in this debate about the need for European independence and how we achieve it. And this European Council and the decision on Ukraine is a central part of this. But we must always remember why independence is so important in todays world. It is so important because independence is ultimately about our freedom. The freedom to decide and make laws for ourselves, to act however we want, to pursue our own interests and our own partnerships. The freedom to vote for whoever we want – without being pressured or subjected to a torrent of manipulated information. The freedom to choose diversity, democracy. But above all it is about the freedom to live the way we want – the European way. Our cultures and traditions are so distinct and so central to our way of life. This is what binds us together. And when we are united, we are unstoppable. And I am deeply proud of that. Our differences do not divide us. We celebrate our cultures. They connect us as Europeans. And the pride we have in Europe is what connects us. So as we look ahead, I urge you to be confident in what we can achieve in our quest to be a strong, independent Europe.

Thank you and long live Europe.