Thank you for attending this discussion, and to our European colleagues here in Berlin for organizing it.

These are significant times. As mentioned, we are competing with Berlin to make stronger statements on defence. Congratulations to the current and future German governments for their decisions, which set an inspiring example for other member states in Europe. We must act quickly and boldly to be prepared for todays wars and the worse ones of tomorrow.

I will not discuss the White Book in depth. For a clear political overview, I recommend reading it, as well as President Ursula von der Leyens recent speech in Copenhagen. It provides an excellent summary of the Commission and EU leaderships perspective.

As a former Prime Minister, I understand the magnitude of the threats and the work required. I will highlight two figures: First, according to NATO, Russia can produce more weapons in three months than all NATO countries together in a year. Second, measured in purchasing power parity, Russia will spend more on defence than all EU member states combined.

My conclusion is simple: if we allow such imbalance to continue, we will keep tempting Putin to test us. We must take seriously what intelligence services say about possible tests of Article 5 in the near future.

There are also negotiations for a ceasefire in Ukraine. We face two challenges: Russia and Ukraine, and Chinas growing military power. We must be ready for a shift of the American focus to the Indo-Pacific.

Europe must take more responsibility without delay. The White Book outlines clear priorities: increasing defence spending, closing capability gaps, and strengthening the European defence industry. We must enhance our capabilities and support Ukraine.

The European Investment Bank is taking steps to facilitate defence investments. It is crucial that we expand opportunities to collaborate with countries like Canada and the UK through Security and Defence Partnerships.

Thank you very much.