"Europe must now demonstrate that it is aware of the magnitude and weight of the crises it faces. The pressures on our economy, competitiveness and security, and the growing mistrust of some citizens, leave no room for inaction. Any delay - whether out of ideological blinders or political cowardice - would be a historic mistake." These remarks were made by Vice Prime Minister Kostis Hatzidakis, speaking  on Tuesday at the "Olympia Dialogues with Josef Ackermann" event, in the presence of the former head of Deutsche Bank, whose contribution to the Greek financial crisis he praised.
"On the economic front, our continent is squeezed between the United States and China. We are lagging behind in key areas such as innovation, productivity and investment. The absence of strong central coordination prevents us from translating our overall size into real economic strength. The green transition - which Europe is rightly leading globally - confronts us with the risk of transferring production activities to third countries. Russia's invasion of Ukraine has shown, in the harshest possible way, that the security dividend that Europe enjoyed in the post-Cold War era no longer exists," he said. 
Faced with these challenges, Hatzidakis pointed out the need for initiatives to be taken in 4 axes:
1. Strengthening the competitiveness of the European economy, guided by the Letta and Draghi reports. 
2. The adoption of more effective common European policies in the energy sector, with investment in networks, real integration of the European energy market and a new approach to the green transition.
3. Maintaining cohesion policy as a central pillar of European integration. 
4. Strengthening European defence, which is no longer a luxury but an immediate and urgent necessity.