Paolo Gentiloni made a speech at the Peterson Institute for International Economics: Transatlantic economic policy in times of war.

the Institute is an "independent organisation" that has roots in all the usual non-independent sources: US administrations, CIA, and other institution that consider the entire world (and the universe, including the moon) as their oyster. We shall investigate the institute’s policies after looking at that hypocritical speech by Paolo — who must be very busy, considering his allocation of tasks in the EU. But in reality, his main job is to BULLSHIT the usual crap about “economy” and such turd polishing devices...

AS for previous notations GusNotes IN CAPS/(BOLD) on this stupid speech by this macaroni, from Europe: 

Speech by Commissioner Gentiloni at the Peterson Institute for International Economics: Transatlantic economic policy in times of war

THERE IS NO WAR, EXCEPT THAT ONE WAGED BY PROXY — BY NATO AND THE USA ON RUSSIA...

Thank you Adam for this introduction. It is a pleasure to be in D.C. and to be at the Peterson Institute for the first time in person, even if unfortunately the audience is still virtual. It is right to remain prudent – and to remind ourselves that the pandemic is not yet over. One step at a time!

USUAL CRAP ABOUT COVID AND THANKING THE POT PLANTS IN ABSENCE OF AN AUDIENCE...

It is now almost two months since Russia's unprovoked and unjustified invasion of Ukraine. 

YES THE (UN)PROVOCATION WAS SET UP AS A TRAP BY NATO AND THE USA BY MAKING SURE ZELENZKYYYYY-Y WAS NOT GOING TO ADHERE TO THE MINSK AGREEMENTS DESIGNED TO PROTECT THE DONBASS REGION. FOR THE LAST 8 YEARS, THE UKRAINE GOVERNMENT HAS KILLED MORE THAN 14,000 PEOPLE IN THE DONBASS REGION AFTER AN UNCONSTITUTIONAL COUP IN UKRAINE SPONSORED BY THE USA IN 2014. THE UKRAINIAN GOVERNMENT HAD AMASSED 60,000 TROOPS TO INVADE THE DONBASS REGION IN EARLY MARCH 2022. WHETHER THIS WAS GOING TO HAPPEN OR NOT, THIS WAS A TRAP TO LURE PUTIN INTO DEFENDING THE DONBASS REGION. IN ORDER TO DO SO, PUTIN DECIDED TO BOMB ALL THE MILITARY INSTALLATION OF UKRAINE, THIS IS WHY LITTLE JEWISH MAMA BOY IS PLEADING THE WESTERN NATIONS TO PROVIDE HIM WITH MORE EXPLOSIVE TOYS….

Two months of indiscriminate killings, bombings of civilian targets and absolutely shocking violence. Two months of a war happening just across from EU and NATO borders, the effects of which are being felt the world over. Indeed, this week's IMF Spring Meetings are overshadowed by the impact of the war on the world economy.

FUCK! THE RUSSIANS HAVE TRIED HARD NOT TO HIT CIVILIANS AND MUCH OF THE CIVILIAN DAMAGES WERE DONE BY THE UKRAINIAN NAZIS IN FALSE FLAG OPERATIONS. AND THE DAMAGE IN DONBASS DOESN'T COUNT????

AND FUCK THE IMPACT OF WAR ON THE WORLD ECONOMY. THE WORLD ECONOMY — INCLUDING THE EUROPEAN ECONOMY — IS ONLY SUFFERING FROM SANCTIONS IMPOSED UNILATERALLY BY THE USA ON RUSSIA. WERE THERE NO SANCTIONS — WHICH SO FAR HURT RUSSIA FAR LESS THAT THE EU COMMUNITY — AND WERE THERE NO SUPPLY OF NATO WEAPONS TO UKRAINE, THE SITUATION WOULD HAVE STABILISED VERY QUICKLY AND RUSSIA WOULD HAVE HAD THE SECURITY IT IS ENTITLED TO:

NO NATO IN UKRAINE

THE DONBASS REPUBLICS TO BE AUTONOMOUS IN UKRAINE

CRIMEA TO BE RUSSIAN AS PER THE LEGITIMATE CRIMEAN VOTE IN 2014.

But the consequences of Putin's senseless war extend beyond the economy. 

THE USA AND NATO ARE THE ONES WHO ARE COMPLETELY SENSELESS IN NOT RECOGNISING THE MULTI-ETHNIC COMMUNITY IN UKRAINE WHICH LED TO THE DONBASS REGION MOSTLY POPULATED BY RUSSIAN SPEAKING PEOPLE DEMAND FOR AUTONOMY. THEY RESENTED THE BAN ON SPEAKING RUSSIAN IN UKRAINE, THE TAKEOVER OF THE UKRAINIAN GOVERNMENT BY THE BANDERITES (UKRAINIAN NAZIS) AND THE CONSTANT SHELLING OF THEIR CITIZEN.... 

It is also reshaping the energy landscape and triggering a shift in defence policies. I will focus this morning on the war's economic impact, while also touching on its broader implications in these two areas – energy and defence – from a European and transatlantic perspective. 

THE EUROPEAN ENERGY LANDSCAPE WAS MODIFIED BY THE USA BY FORCING GERMANY (AND EUROPE IN GENERAL) NOT TO ACCREDIT THE NORDSEA 2 GAS PIPELINE FROM RUSSIA — SO THE USA CAN SELL THEIR ROTTEN PERMIAN SHALE GAS TO EUROPE AT THREE TIMES THE PRICE.

IN REGARD TO DEFENCE, PUTIN HAS NO DESIRE TO INVADE POLAND OR ANY OTHER NATO COUNTRIES IN EUROPE THAT NATO ACQUIRED BY LYING TO RUSSIA ("NOT ONE INCH EASTWARDS”). THE INTERVENTION IN UKRAINE ONLY TOOK ASPECT OF BECOMING A WAR WHEN NATO AND THE US DECIDED (WAY BEFORE THE INTERVENTION BY RUSSIA) TO SUPPLY WEAPONS TO THE CORRUPT UKRAINE (JEWISH/NAZI) GOVERNMENT.

ZELENSKYYYYY-Y ONLY GOT ELECTED BECAUSE UKRAINIANS HAD ENOUGH OF THE CORRUPTION…. DESPITE HIS CLEVER WORDS, ZELENSKYYYYYY-Y, THE JEWISH MAMA BOY, IS MORE CORRUPT THAN MOST OF HIS PREDECESSORS, BEIING A HYPOCRITE JEWISH GUY USING THE NAZIS TO DO HIS DIRTY WORK.

[Economic implications]??????

This new crisis hit us just as our economies were shaking off the effects of the COVID-19 shock and the global recession of 2020. 

THERE WOULD NOT HAVE BEEN A “CRISIS” HAD THE USA NOT IMPOSED SANCTIONS AGAINST RUSSIA, NOR WITH THE USA STEALING RUSSIAN WORLD ASSETS. THERE WOULD NOT HAVE BEEN A CRISIS HAD THE USA HELPED UKRAINE ADHERE TO THE MINSK AGREEMENTS.

We started this year with EU GDP back at pre-pandemic levels. Unemployment had reached record lows. Accumulated savings were high. And business and consumer surveys were painting a picture of growing confidence.

BULLSHIT! EUROPE WAS IN THE THROES OF ECONOMIC MISMANAGEMENT BEYOND THE PALE, AS THE USA MADE SURE EUROPE WOULD NOT BECOME COMPETITIVE.

This swift turnaround since 2020 stands in stark contrast with the global financial crisis of 2008. Then, it took about seven years for EU economic output to reach pre-crisis levels.

DELUSIONAL!!!!! .

This success is a testament to the strength and the coordination of our fiscal and monetary policy response, both within Europe but also at G7 and G20 level.

BULLSHIT! EUROPE WAS IN THE THROES OF ECONOMIC MISMANAGEMENT BEYOND THE PALE, AS THE USA MADE SURE EUROPE WOULD NOT BECOME COMPETITIVE.

The US economy had a similarly fast and strong recovery, with some differences compared to the EU due to different safety nets and support mechanisms.  

BULLSHIT! THE USA WAS IN THE THROES OF ECONOMIC MISMANAGEMENT BEYOND THE PALE, AS THE USA BECAME IN NEED OF A MONETARY RESCUE PACKAGE (PRINTING MONEY) ABOUT FIVE TIMES THE SIZE OF THE RESCUE PACKAGE IN 2008.

Of course, as we entered 2022 we were already facing a number of challenges: notably rising energy prices and supply chain disruptions, both contributing to mounting inflation.

RUSSIA HAD NOTHING TO DO WITH THIS. BY BLOCKING NORDSEA 2, THE USA WERE ENSURING EUROPE WOULD SUFFER. AS WELL, GLOBAL WARMING IS NOT HELPING AND ITS EFFECT WILL COME WORSE. THE WORLD, INCLUDING RUSSIA, SHOULD LEARN TO LIVE WITHOUT BURNING FOSSIL FUELS, BUT THIS WON’T HAPPEN TILL THE YEAR 2256...

And indeed GDP may have returned to pre-crisis levels, but it had not reached yet its pre-crisis trend. Which is really the key indicator to consider our recovery complete.

MORE DELUSIONAL!!!!

Nevertheless, the fundamentals of our economy were solid and our assumption was that these challenges would subside over the course of the year. The European economy was on course to reach its trend level later in 2022. Our Winter Economic Forecast, which I presented on 10 February, projected 4% growth in the EU for this year.

DELUSIONAL!!!! THE "PEOPLE" WERE NOT HAPPY WITH WHAT WAS HAPPENING.

The war in Ukraine has shattered these assumptions and changed the picture dramatically. Surging commodity prices have driven inflation to new records. Broken trade links are exacerbating supply chain strains. And confidence has been damaged. Let me touch on each of these.

WITHOUT US SANCTIONS, THE WHOLE ECONOMIC IMPACT OF THE RUSSIAN LEGITIMATE DEMANDS ON UKRAINE WOULD HAVE BEEN MINIMAL. EUROPE AND THE USA'S DESIRES TO PLAY GEOPOLITICAL GAMES HAVE BEEN AT THE SOURCE OF THE ECONOMIC PAIN — WHICH TO ANYONE CLEVER ENOUGH WOULD SEE THAT THIS PAIN HAS BEEN SELF-INFLICTED.

First, significantly higher commodity prices, notably oil and gas, but also wheat prices, among others, are putting further pressure on already high consumer inflation.

WITHOUT US SANCTIONS, THE WHOLE ECONOMIC IMPACT OF THE RUSSIAN DEMANDS ON UKRAINE WOULD HAVE BEEN MINIMAL. EUROPE AND THE USA'S DESIRES TO PLAY GEOPOLITICAL GAMES HAVE BEEN AT THE SOURCE OF THE ECONOMIC PAIN — WHICH TO ANYONE CLEVER ENOUGH WOULD SEE THAT THESE HAVE BEEN SELF-INFLICTED.

In the euro area, inflation reached 7.4% in March, the highest level since the introduction of the single currency. However, this number masks significant divergence between the 19 euro area Member States. Four are experiencing double-digit inflation while in a couple it remains more subdued at around 5%.

WITHOUT US SANCTIONS, THE WHOLE ECONOMIC IMPACT OF THE RUSSIAN DEMANDS ON UKRAINE WOULD HAVE BEEN MINIMAL. EUROPE AND THE USA'S DESIRES TO PLAY GEOPOLITICAL GAMES HAVE BEEN AT THE SOURCE OF THE ECONOMIC PAIN — WHICH TO ANYONE CLEVER ENOUGH WOULD SEE THAT THIS PAIN HAS BEEN SELF-INFLICTED.

Inflation has similarly shot up in the US, even though there are some differences when it comes to the main drivers.  The largest driver of inflation in the euro area are energy prices, which reached almost 45% last month. Let me recall that in January 2021, energy inflation was still in negative territory.

WITHOUT US SANCTIONS, THE WHOLE ECONOMIC IMPACT OF THE RUSSIAN DEMANDS ON UKRAINE WOULD HAVE BEEN MINIMAL. EUROPE AND THE USA'S DESIRES TO PLAY GEOPOLITICAL GAMES HAVE BEEN AT THE SOURCE OF THE ECONOMIC PAIN — WHICH TO ANYONE CLEVER ENOUGH WOULD SEE THAT THIS PAIN HAS BEEN SELF-INFLICTED.

In the US, inflation is mostly driven by strong demand and the consumption boom triggered by the policy response to the pandemic.

BULLSHIT. INFLATION IN THE US WAS DUE TO THE US ADMINISTRATION PRINTING MONEY. THEN WITHOUT US SANCTIONS ON RUSSIA, THE WHOLE ECONOMIC IMPACT OF THE RUSSIAN DEMANDS ON UKRAINE WOULD HAVE BEEN MORE THAN MINIMAL. EUROPE AND THE USA'S DESIRES TO PLAY GEOPOLITICAL GAMES HAVE BEEN AT THE SOURCE OF THE ECONOMIC PAIN — WHICH TO ANYONE CLEVER ENOUGH WOULD SEE THAT THESE HAVE BEEN SELF-INFLICTED.

However, it is also clear that inflation in Europe is becoming more broad-based. The effects of the war are adding to pre-existing drivers of price rises, related to the effects of the post-pandemic recovery. At the same time, it is important to underline that inflation expectations remain anchored and that, for the moment, we see only limited second-round effects.

WITHOUT US SANCTIONS, THE WHOLE ECONOMIC IMPACT OF THE RUSSIAN DEMANDS ON UKRAINE WOULD HAVE BEEN MINIMAL. EUROPE AND THE USA'S DESIRES TO PLAY GEOPOLITICAL GAMES HAVE BEEN AT THE SOURCE OF THE ECONOMIC PAIN — WHICH TO ANYONE CLEVER ENOUGH WOULD SEE THAT THEIS PAIN HAS BEEN SELF-INFLICTED.

Second, the war and its consequences – including the successive rounds of sanctions that the EU and the US have imposed on Russia – are exacerbating pressures on already strained global supply chains. This is affecting output in a number of sectors, as well as exerting further upward pressure on prices.

YES!!!!!

Explicit embargoes, implicit bans and voluntary withdrawal from trade are inevitably having an impact on commerce. This may prove particularly important for some Member States with stronger links to Russia. In the Baltic states, for instance, exports to Russia account for some 5% to 8.5% of total exports, compared to 1.8% for the EU as a whole.

So while we continue to stand by the sanctions decisions which we have coordinated with our allies, we also have to be honest with our citizens: this strategy is not without a price.

YES!!!!!!!!!!!!!!! STUPIDITY HAS A PRICE!!!!!!!!!!!!!!!!!

These developments increase both the need and the likelihood that supply chains will undergo major reorganisations. Strengthening trade links with other partners will take time and may be costly in the short term. They will however reduce our strategic dependence from Russia.

RUSSIA HAS BEEN VERY CLEAR ABOUT SUPPLYING GAS AND OIL TO EUROPE. THE RUSSIANS ARE ADHERING TO EXISTING CONTRACTS, BUT THE EMBARGO ON THE PAYMENTS MADE THEM CHANGE THESE PAYMENTS IN RUBLES RATHER THAN US DOLLARS. THE ALTERNATIVE WHICH WOULD HAVE SUNK THE EUROPEAN ECONOMY WOULD HAVE BEEN FOR RUSSIA TO SHUT DOWN SUPPLIES. ALREADY, DESPITE THIS RUSSIA IS SUPPLYING MORE OIL AND GAS TO THE REST — THE NON-WESTERN ALLIED — OF THE WORLD.

Third, consumer confidence has dropped markedly since the invasion, while business confidence has so far been less affected. We will need to continue to track this soft data carefully in the coming weeks and months. The first data reflecting the impact of the war will be the preliminary GDP flash for the first quarter, which Eurostat will publish at the end of this month.

THE CONSUMER CONFIDENCE HAS NOTHING TO DO WITH THE RUSSIAN INTERVENTION IN UKRAINE. IT WAS DUE TO ECONOMIC FIDDLES THAT WERE BASICALLY “ECONOMIC CORRUPTED RABBLE” FROM THE USA (PRINTING MONEY), FROM EUROPEAN GRAND DELUSIONS, FROM THE IMF AND THE WORLD BANK THAT DID NOT SUIT THE MOOD OF THE PEOPLE THAT HAD BEEN IN COVID LOCKDOWN.

My conclusion is crystal clear: we see a significant economic impact from the war. The global impact is particularly deep for the EU. The duration of the war will determine its cost, both humanitarian and economic.

YES!!!!!!!!!!!!!!! STOP SUPPLYING WEAPONS TO THE JEWISH MAMA BOY AND YOUR ECONOMY WILL RECOVER QUICKLY.

EU Member States have started to adopt a variety of measures to tackle this crisis. These include economic and material support to Ukraine, assistance to refugees, as well as continued support to the economy to deal with high energy prices and disruptions in production.

PRINTING MONEY IS NOT THE WAY TO GO… THE WORLD DEBT TO ITSELF IS ALREADY MORE THAN TWICE THE WORLD ANNUM GDP AND THE DEBTS CAN NEVER BE REPAID. THESE ARE CONFIDENCE TRICKS THAT SHATTER BELIEFS IN ECONOMIC (MIS)MANAGEMENT.

These initiatives will inevitably weigh on budget deficits. According to our preliminary assessment, the initiatives taken by governments so far will increase budget deficits by at least 0.6% of GDP this year.

Overall, it is clear that the 4% growth we had projected for this year looks out of reach. It is too soon to reveal by how much we will need to trim this forecast. I will be able to provide a first indication on May 16, when I will present our Spring Economic Forecast.

To ensure our economies successfully navigate these troubled waters, we need to maintain agile and responsive fiscal policies, much like we did during the COVID crisis. The Commission will provide updated guidance for fiscal policy in 2023 as part of the European Semester spring package that we will present on 23 May.

We must also continue to implement effectively the national recovery and resilience plans Member States put in place in the wake of the pandemic. This is key to supporting confidence and delivering the investments and reforms our economies need, now more than ever.

Beyond the economic impact of the war, there are – as I mentioned – deeper implications for our policies in other areas and for the transatlantic alliance more broadly.

This crisis has been in many ways a wake-up call for Europe: it is high time to reduce our dependencies in strategic sectors and to strengthen our autonomy.

The pandemic had already prompted this wider rethink, especially with regard to reassessing our supply chains in key areas. But the war has drastically accelerated this process, in particular in the fields of energy and defence.   

[Energy]

As Secretary of State Anthony Blinken aptly put it recently, Russia is now using energy as a weapon. This clearly changes everything. It has sparked a seismic shift in the energy landscape.

BULLSHIT!!!!!!!!!!!! THE USA IS USING SANCTIONS AS A WEAPON!!!! SHOULD RUSSIA DECIDE NOT TO SUPPLY GAS AND OIL TO EUROPE, THIS WOULD REALLY BE WEAPONISING THE CAPER. WHAT SHITS THE EU AND THE USA IS THAT RUSSIA ISN’T DEPENDENT OF SELLING GAS AND OIL TO EUROPE.

The US was quick to impose an embargo on Russian energy imports. As you know, in Europe we have banned coal imports from Russia and are actively discussing the possibility of further sanctions involving oil and gas.

CHINA NEEDS MORE COAL THAN RUSSIA CAN EXPORT TO CHINA…. NOT SUPPLYING COAL TO EUROPE DOES NOT HURT RUSSIA.

This approach reflects the different exposure to Russian energy on the two sides of the Atlantic. The US is a net exporter of energy with low exposure to Russia. In Europe, ninety percent of the gas we consume is imported and Russia provides almost half of those imports, in varying levels across Member States. Russia also accounts for 27% of oil and 46% of coal imports.

YES!!!! THIS IS WHY THE USA IS PUNISHING EUROPE RATHER THAN RUSSIA IN THIS SANCTION SYSTEM.

Nevertheless, the EU has already taken very bold decisions. We have sent a clear message to the Kremlin: we will not be blackmailed.

BULLSHIT! RUSSIA DID NOT BLACKMAIL EUROPE! THE USA AND EUROPE BLACKMAILED RUSSIA AND EUROPE DECIDED TO HAMMER A NAIL THROUGH ITS FOOT IN ORDER TO PLEASE WASHINGTON!!!

In March, the Commission announced the REPowerEU plan, with the goal of slashing EU demand for Russian gas by two thirds before the end of the year, and to make Europe independent from Russian fossil fuels by 2027.

RUSSIA IS FRETTING AND CAN SEE DOOMSDAY COMING IN 2027!!!!! ARE YOU SERIOUS, MR MACARONI?

The challenge will be to square the seemingly impossible trilemma of keeping energy prices affordable, ensuring security of supply and pursuing our green goals.

YOUR GREEN GOALS ARE BULLSHIT. MEANING THAT THE EU SHOULD GO GREEN, BUT BY SUPPLYING WEAPONS TO MUCKRAINE YOUR GREEN GOALS ARE PROPAGANDA SHIT.

Soaring energy prices are harming the competitiveness of our firms and impacting low income households most severely. We have encouraged Member States to make use of a toolbox of measures to tackle high energy prices, from cutting VAT rates to providing direct support to the most vulnerable groups. This has been followed by a new temporary State aid framework. And we are discussing more far-reaching options, such as setting regulated prices. 

SO FAR NO SOLUTION HAS BEEN FOUND APART FROM DRIVING ANOTHER NAIL INTO EUROPE’S OTHER FOOT...

Cutting our dependence on Russian energy while securing sufficient gas for next winter means we must increase imports from other suppliers.

YOU ARE BLOODY LUCKY THAT RUSSIA HAS NOT TURNED OFF THE GAS BUT AS YOU SUPPLY MORE WEAPONS TO UKRAINE, THIS COULD EVENTUATE BEFORE YOU’RE “READY”…

Discussions with partners have intensified in recent weeks and have led to the recent deal announced by President Biden and President von der Leyen for the US to provide additional supplies of LNG to the EU. This deal marks an important step in our efforts to diversify gas supplies and is a powerful symbol of the strength of our alliance in times of crisis.

Boosting imports from other suppliers is one way to secure alternatives to Russian gas in the short-term. But make no mistake: the best way to ensure we can meet our energy needs is to diversify our energy sources and reduce our dependency on fossil fuels altogether.

YES!!!! GO FOR PAPER PLANES, BASKET WEAVING AND PRINT MONEY….

The case for a rapid clean energy transition has never been stronger and clearer. The EU is already a global leader in this respect. But in the current situation, we need to do more, and we need to do it faster. It would be a mistake to put on hold the green transition while we face this crisis and we must avoid doing that.

YES!!!! GO FOR PAPER PLANES, BASKET WEAVING AND PRINT MONEY….

At the recent summit in Versailles, EU leaders tasked the Commission to present concrete measures to make REPowerEU a reality. One month from now, on May 23, we will present our plan. As you can imagine, work is ongoing and it is too soon to share details. What I can say is that REPowerEU must be backed by the necessary national and European resources. The Recovery and Resilience Facility will have an important role to play.  

WE DON’T KNOW WHAT WE’RE DOING AND WON’T KNOW TILL 2135….

[Defence]?????????

Finally, the war in Ukraine also marks a turning point for Europe's defence policy and for the transatlantic relationship.

Positions that were held for decades have shifted in a matter of days.

YES, UKRAINE HAS NOT BEEN PLAYING BALL IN REGARD TO THE MINSK AGREEMENTS, NATO HAS BEEN BULLSHITTING THE RUSSIANS SINCE 1991 AND YOU’RE BLAMING RUSSIA FOR THIS?….

For the first time in its history, the EU agreed to deliver arms and other equipment to a country under attack. With the latest announcement from earlier this month we have now pledged 1.5 billion euros in military aid to Ukraine. Unprecedented.

YOU IDIOT! YOU’RE ONLY PROLONGING THE WAR SO MORE PEOPLE WILL BET KILLED WHILE THE END RESULT WILL BE THE SAME:

NO NATO IN UKRAINE

THE DONBASS REPUBLICS TO BE AUTONOMOUS IN UKRAINE

CRIMEA TO BE RUSSIAN AS PER THE LEGITIMATE CRIMEAN VOTE IN 2014.

In Versailles, EU leaders committed to bolster our defence capabilities, pledging to: substantially increase defence expenditure; develop joint projects and joint procurement of defence capabilities within the EU; increase investments in technologies and innovation for security and defence; and further develop our defence industry.

ALL THIS WON’T MAKE ANY DIFFERENCE TO THE PRICE OF FISH EXCEPT RUN BIGGER DEFICITS...

Russia's invasion of a country bordering NATO has also strengthened the transatlantic alliance – and its attractiveness to countries like Finland and Sweden where we have witnessed a sea change in public opinion on this matter in recent weeks. And we will see the consequence in the coming weeks.

RUSSIA IS PROTECTING DONBASS PEOPLE IN UKRAINE, AS WELL AS, BY RIGHTS, PROTECTING ITSELF FROM NATO INVASION. CAPICE?

The Versailles Declaration stresses that the EU's efforts in this field are complementary to NATO, which remains the foundation of collective defence for its members.

NATO IS A FASCIST ORGANISATION. IF YOU HAVE NOT UNDERSTOOD THIS YET, YOU ARE A MORON, MR SPAGHETTI...

Indeed, where would we be now if the Baltic states, Poland or Romania were not in NATO? I believe that NATO's eastward expansion has actually put us in a better place to deal with Putin's history of aggressing Russia's neighbours.

PUTIN HISTORY OF “AGGRESSING NEIGHBOURS" HAS ONLY BEEN IN RESPONSE TO NATO USING THESE NEIGHBOURS TO AGGRESS RUSSIA AND RUSSIAN PEOPLE...

Boosting our defence capabilities will require significant investments in our industrial and technological base.

PASS THE MAYONNAISE….

The new defence investment needs come on top of those to deliver on the green and digital transition. We are currently working on an updated analysis of our investment needs in these strategic sectors, which will be ready with our REPowerEU plan later in May.

But we are talking about mobilising hundreds of billions of additional investments each year. While most of these investments will need to come from the private sector, financing them will require a more supportive framework of fiscal rules and potentially new tools at the European level.

YOU WOULD NOT KNOW A FISCAL RULE FROM A FAECAL ONE… IDIOT!

[Conclusion]

Two years since the start of the pandemic, Russia's invasion of Ukraine has plunged us into another crisis.

GET A LIFE, YOU MORON. YOU DON’T HAVE TO PARTICIPATE IN “THIS” CRISIS.

While its economic impact will only gradually become fully clear, its broader significance was evident from that fateful 24 February.

THE REALLY FATEFUL DAY IS WHEN NATO AND THE USA BULLSHITTED THE RUSSIANS ABOUT NOT MOVING ONE INCH TO THE EAST...

When Russian tanks rolled across the border, they did not just trample on Ukraine's sovereignty but on the very notion of the international rules-based order. Ukraine is being shelled for its Western aspirations – for trying to build a liberal democracy based on freedom and the rule of law and for seeking closer ties to the West and the European Union. This is simply unacceptable.

THE INTERNATIONAL RULES-BASED ORDER IS A BULLSHITTIC INVENTION BY THE USA, THAT HAS "TRAMPLED MORE COUNTRIES THAN EXIST ON THIS PLANET*". *NOTE: THIS IS AN EXAGGERATION BY GUS. SAY HALF OF THE COUNTRIES ON THIS PLANET AND WE’LL BE SQUARE….

This is why Europe and its allies have taken a strong and united stance: while staying clear from a dangerous direct participation in the war, we are providing full support to Ukraine.

YES, YOU KNOW THAT DIRECT PARTICIPATION IN THE UKRAINE/RUSSIA CONFLICT WOULD MEAN BEING BOMBED TO SMITHEREENS, SO YOU HYPOCRITICALLY SUPPLY WEAPONS (THAT GET DESTROYED DAILY BY RUSSIA) TO A CORRUPT COUNTRY, UKRAINE.

In this confrontation, our economic resilience is crucial not just to protect our citizens, but also our model of Western liberal democracy. That is what is at stake now. This war might drag on for longer than we think. In the weeks and months ahead, we need to maintain the same unity that we have shown over the past two months, both across the ocean and within the EU.

WESTERN LIBERAL DEMOCRACY ARE SICK. THE “WAR” CAN ONLY DRAG ON WITH THE EU, NATO AND THE US SUPPLYING WEAPONS TO A CORRUPT COUNTRY CALLED UKRAINE. YOU TALK OF UNITY BECAUSE YOU ARE WORRIED THAT THE USA MIGHT DO ANOTHER RUNNER, LIKE IN AFGHANISTAN, ON THIS ISSUE...

This crisis will also spell the end of globalisation as we have known it and reshape global alliances. The notion of Wandel durch Handel, of bringing about change through trade, has shown its limitations. We need to rethink our relations with autocratic regimes and strengthen our ties with like-minded partners.  We do not need a revival of protectionism. What we need is a new and more secure globalisation. The balance, of course, will not be an easy one to find.

UNIPOLARITY OF THE “GLOBALISATION” ALLA AMERICANA IS DEAD. WELCOME MULTIPOLARITY WITH GRACIOUS GEOPOLITICAL UNDERSTANDINGS...

This year marks the 75th anniversary of the Marshall Plan, a project that was decisive in so many ways: it cemented transatlantic solidarity; it kickstarted Europe's postwar recovery; and it sowed the seeds for economic integration on our continent.

THE MARSHALL PLAN WAS DESIGNED TO TURN EUROPEAN COUNTRIES INTO VASSALS OF THE USA AND THIS SUCCEEDED BEYOND THE US DREAM. THIS IS WHY GENERAL DE GAULLE PAID THE CAPITAL IN FULL IN 1964, SO THAT FRANCE COULD UNSHACKLE ITSELF FROM THE AMERICAN CLAWS.

And when peace returns to Ukraine, we will need a new Marshall Plan to rebuild the country – better, stronger, greener, more secure – and to help it along its path towards the European Union. An immense challenge, which together we must turn into an opportunity: for Ukraine, for Europe, and for our transatlantic community of democracies.

NO MARSHALL PLAN FOR UKRAINE PLEASE… RUSSIA AND CHINA WILL FINANCE THE RECONSTRUCTION, WITHOUT STRINGS ATTACHED.

Thank you.

(THE TELEPROMPTER APPLAUDS)

FREE JULIAN ASSANGE NOW.   .&^%$#@!@#$$^&^*((*&^%$%$$%