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00:00questa domanda, indipendente dei sviluppi singoli dei Stati membri.
00:04Stavate riferendo ai so-called new financial tools or innovative financial tools,
00:11where we agreed in the conclusions to explore them.
00:15And I think it was very clear, if I may, one step backwards,
00:21we need more private investment, but this is on a different sheet of paper,
00:25we need more public investment.
00:27We look at all the needs that are there, starting with security and defence
00:34and going to the topic, for example, of supporting our innovative industries.
00:40The approach has to be very clear.
00:43We first have to define our priorities, indeed.
00:46And if the priority is that for certain military capabilities
00:51we're not able to finance, and it's not smart to finance them individually
00:55fragmented in 27 member states, but that it's much more better
01:00to finance them on a European scale, then we can discuss how we finance that.
01:07And you know my answer that there are two ways to do this.
01:10It is either contributions to the budget or new own resources
01:15to the European Commission.
01:18And both include, of course, that you raise capital at the capital markets.
01:23Very impressive was today Mario Draghi as well as Christine Lagarde
01:29who described, of course, that the use of those innovative tools
01:35to improve the productivity in the European Union
01:40leads to more fiscal space of our member states
01:44and therefore a gain and not a loss, if you move forward like this.