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Ukraine: Versailles summit a success says Draghi

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Ukraine: Versailles summit a success says Draghi

Encouragement but respecting rules on Kyiv in EU says Italy PM

ROME, 11 March 2022, 16:10

Redazione ANSA

(ANSA) - ROME, MAR 11 -

The informal EU summit on Ukraine at Versailles has been a success, Premier Mario Draghi said Friday.
"I have rarely seen the EU so united," he said.
Draghi said that sanctions against Russia for its invasion of its neighbour "are very heavy and were adopted by all without hesitation.
"They may be even heavier, the important thing is to be aware that they have an impact on households and businesses and, above all, on the maintenance of their production.
"This situation, unless it is addressed, has the potential to fracture the EU economic system pushing it towards protectionism".
He added: "Putin does not want peace, Putin's plan appears to be something else. I hope we get a (ceasefire) as soon as possible and we will do everything we can so that Ukraine and Russia manage to speak to each other, as long as Ukraine's dignity is preserved".
On Kyiv's aspirations to join the EU, Draghi said "there is great willingness by many, a great determination from others and a notable caution by others still.
"The rules for joining are very precise and envisage a long period of structural reforms. I am the first to think that a message of encouragement would be helpful but we must also respect what others say".
Draghi said "we are not in a war economy but it is a good idea to prepare for one" and said "if the economy weakens, an EU response is needed".
He added that the EU will have to "revise the rules that have accompanied us", ranging from the Stability and Growth Pact to rules on imports to state aid.
He said some two trillion euros were needed to meet EU financial needs on climate, defence and energy goals.
These funds could not come from national budgets, he said.
Taxing the surplus profits of electrical companies could produce revenue of 200 billion across Europe, Draghi said.
He added that expansive policies were needed to make sure that EU climate targets do not fail.
Italy is able to cope with a slowdown in growth, he said.
European Commission President Ursula von der Leyen said the EU had passed three sanctions packages against Moscow and "now we must go ahead with a fourth package which will further isolate Russia from the global economic system and will make it pay an even clearer price for Putin's invasion".

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