LIVE: Ursula von der Leyen Addresses EU Parliament on Ukraine Peace & Security Guarantees | AC1G

Resource EU plan or on diversification and strengthening supply chains through ambitious trade agreements from Latin America to the Indo-Pacific. Europe's era of independence must be unstoppable, and we have more work to do. We have to go further. We must move swiftly, and that is particularly important when it comes to security and defense. The bottom line is simple: Europe must be responsible for its own security. This is no longer an option. This is a must. And 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 underinvestment, we are turning a corner. We're transforming our defense 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 defense than in the last decades. Over the last 10 years, we invested 8 billion euros in the defense fund. This year, we enabled up to 800 billion euros of investment till 2030. And we have seen how oversubscribed our SAFE program has been, with the demand from 19 member states fast outstripping the 150 billion euros on the table. And member states are already asking for a new round of SAFE. And this shows our European commitment to our European security. And honorable members, this surge in defense is not only on defense. We all know it. It is about our freedom. It is about our prosperity, and it is about our independence. And there is no more important act of European defense than supporting Ukraine's defense. The next days will be a crucial step for securing this. It is up to us to choose how we fund Ukraine's 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 Russian barrage of attacks intensifying. Now, the IMF and our estimates show that Ukraine's need for the years 26 and 27 are around 137 billion euros. Europe should cover two-thirds, that is 90 billion euros. And this is not just about numbers. This is about strengthening Ukraine's ability to secure a real peace, one that is just, one that is lasting, one that protects Ukraine, and thus also protects Europe. And it is also about ramping up the cost of war for Russia. And this is why I proposed two different options for this upcoming European Council: one based on assets and one based on EU borrowing. And we will have to decide which way we want to take, which route we want to take. But one thing is very, very clear: we have to take the decision to fund Ukraine for the next two years in this European Council.

And we have already done one very important step last week. We agreed on the sustained immobilization of Russian assets, and this is a decisive step that sends a very strong political message. It means that the Russian assets will remain immobilized until we decide otherwise, until Russia stops the war, and until Russia pays due reparations to Ukraine for the damage that is done. And with the assets immobilized indefinitely, this is also about strengthening Ukraine's ability to secure a real peace, one that is just, one that is lasting, and one that protects Ukraine and Europe. Honorable members, we also have to agree this week on the topics that have been mentioned by Minister Beier. I want to focus on the topics I have mentioned here. We will speak a lot in this debate about the need of 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 today's world. It is important because independence is ultimately about our freedom. The freedom to decide and to make laws for ourselves. The freedom 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, to choose democracy. But above all, it is about the freedom to live the way we want. And that is the European way of life. And our cultures and our traditions are so distinct and so central to our way of life. And this is what binds us together. And when we are united, we made the experience, then we are unstoppable. And I'm deeply proud of this. Our differences do not divide us. We celebrate our different 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.