0:00
Your Majesties, distinguished heads of states and governments, President Lagarde, ministers, ambassadors, business leaders, ladies and gentlemen, I'm extremely happy to be here
0:15
And it's great to be here, as the financial times would say
0:22
and it's a time of peace, stability and predictability. So let's try to address the key challenge of this world in a few minutes' time
0:40
but it's clear that we are reaching a time of instability, of unbalances
0:46
both from the security and defence point of view and the economic point of view
0:50
Look at the situation where we are I mean a shift towards autocracy against democracy more violence more than 60 wars in 2024 an absolute record even if I understood a few of them were fixed and conflict has become normalized hybrid expanding into new demands space digital information cyber trade and so on
1:17
It's as well a shift towards a world without rules, where international law is trampled underfoot
1:27
and where the only law that seems to matter is that of the strongest
1:31
and imperial ambitions are resurfacing. Obviously, the Russian war of aggression against Ukraine
1:42
which will enter into its fourth year next month, and conflicts continue in the Middle East and across Africa
1:51
This is as well a shift toward a world without effective collective governance
1:56
and where multilateralism is weakened by powers that obstruct it or turn away from it
2:02
and rules are undermined
