00:00www.europe.org
00:30EU leaders are in Brussels this Thursday and Friday for what's being dubbed a make-it-or-break-it summit.
00:37From saving face on Ukraine to stopping the Mercosur trade deal from falling off a cliff,
00:42big decisions on key issues will have to be made today.
00:45Ahead of these talks, the Commission Chief Ursula von der Leyen warned of a new international order in a world full of predators.
00:52For more on why this December summit is so crucial for the EU,
00:56we can cross straight over to the EU Council building where Euronews' correspondent Shona Murray is standing by for us
01:01on the very red carpet where leaders are arriving.
01:05Good morning, Shona. Tell us what is up for discussion today and why is this summit so important?
01:13Well, good morning, Maeve. As you mentioned there, just behind me here on the red carpet,
01:16we'll have EU leaders from all EU countries, all 27 member states.
01:20They'll be joined by Ukrainian President Volodymyr Zelensky for what could be the most historic,
01:26the most consequential EU leaders meeting of all time.
01:30What's at stake? What's at the agenda?
01:31Well, what's on the agenda is funding, urgent funding for Ukraine for the next two years.
01:36What's on the agenda?
01:37Whether or not to utilise 210 billion euros of frozen Russian state assets to pay for that.
01:44Now, EU leaders will be discussing this, basically saying that why should Europe be paying for the Russian invasion of Ukraine?
01:52185 billion euros of those Russian assets are here in Euroclear in the Belgian repository.
01:57And the Belgian government is very concerned about the unintended consequences for this.
02:02Legal ramifications, the threat to Euroclear, the threat to their credibility as a financial services hub.
02:08And so basically the majority of EU countries would like this to pass, in particular the German government.
02:14But the Belgians need to be reassured.
02:17What I've heard is that EU leaders won't be leaving here until there is a solution.
02:22Maeve?
02:22And what if there is no solution? What if there is no deal?
02:27Well, what we're hearing is it's the only game in town.
02:30There had been other options, but they require unanimous support.
02:34There is no unanimous support for any other agreement.
02:37And this use of frozen Russian state assets required unanimous support.
02:42So there could, we could see that materialise.
02:45But what we've heard from the President of the European Council, President Antonio de Costa,
02:49he's basically saying that we will be here for Thursday, for Friday, for Saturday, until there is a deal.
02:54Because, as we'd also heard from Chancellor Mertz, the EU's credibility on the line really is on the line.
03:00The future of the European Union is on the line.
03:02Europe can't be seen to allow itself to be used by Russia.
03:06And they need to use the leverage of these frozen Russian assets to pay for Ukraine,
03:10to show that Europe means business, that Europe has leverage, and Europe has skin in the game.
03:15So we could be here for the next 24 hours.
03:17I could be talking to you from this exact space with the same clothes on, because there may be no deal.
03:22But, honestly, what we're hearing is EU leaders will say until there is one.
03:26Okay, Shona Murray, whatever happens, you'll report it for us.
03:29Thank you so much for that live update from the red carpet.
03:33And as Shona said there, President Zelensky will be physically attending today's gathering.
03:37And the stakes could not be higher, in fact, for Ukraine's president.
03:40He's under brutal pressure of late to concede territory to Russia.
03:44For more on President Zelensky's expectations for today's summit,
03:47I'm joined here in the studio by our Ukraine correspondent, that is, of course, Sasha Vakalina.
03:52Good morning, Sasha.
03:53Tell us, what are the expectations of President Zelensky today in Brussels?
03:56As you said, the stakes could not have been high.
03:58In fact, the confirmation that Zelensky is going to be in town came just a few hours before the meeting,
04:03and he will be there a little bit later compared to the other leaders.
04:07Now, he said himself that the outcome of the meeting and the result that Europe produces
04:12must make Russia feel that its desire to continue Russia's war against Ukraine next year is pointless
04:19because Ukraine will have the support.
04:22Now, when it comes to this support, the one that Kiev now needs,
04:25this is, of course, a few pillars.
04:27The security measures are needed.
04:28He said financial measures are needed, including actions on Russian assets.
04:33Political measures are needed.
04:34And the courage of all partners is required.
04:38And he also said that these rests entirely with Europe, and Europe must make this choice.
04:43Also, of course, after the first time, a couple of days ago,
04:46we saw those commitments from the European leaders that they put on paper promising to support Ukraine.
04:52And what happens to Ukraine if EU leaders do not find a deal over the next two days or three days in Brussels?
04:57Ukraine will struggle with financing its military needs and financial needs.
05:02The first next injection is needed as soon as next April, May.
05:06And this is the second time when the Europeans are trying to make this decision on Russian frozen assets.
05:11Now, we heard also from German Chancellor Friedrich Maxx,
05:15who pointed out the importance of today's decision when he said,
05:20we intend to use Russian assets to finance the armed forces of Ukraine for at least two more years.
05:25This step is not about prolonging the war, but about bringing the war to an end as soon as possible.
05:32This is, of course, the argument to all those critics who are speaking against using Russian frozen assets.
05:38But at the same time, it's a great indicator of the fact that the European leaders, including MERS,
05:42are not expecting Russia to stop any time soon.
05:45Indeed.
05:45Sasha Vakilina, thank you so much for that update.
05:48Well, ahead of the High Stakes Summit taking place today,
05:52a number of political groups have been meeting together for breakfast in various locations across Brussels.
05:57Our EU news editor, Maria Tadeo, has joined the European People's Party pre-summit gathering,
06:02which is taking place in the Sofitel Hotel here in the EU quarter of Brussels.
06:07Good morning, Maria.
06:07So it's a historic day for the EU.
06:09There's no more time to postpone key decisions.
06:12What are you hearing there where you are?
06:16Well, good morning.
06:17And yes, there is no more time because this is the big one.
06:20Big decisions will have to be made from Ukraine to international trade deals.
06:24And whichever way they go, they will have consequences for the European Union.
06:28The European People's Party, of course, is meeting right before the summit starts.
06:32We have seen the head of the European Commission already here.
06:35And now to debrief what you say could be and will be a make-or-break moment for the European Union,
06:40I'm very happy to say we are joined by Luxembourg's Prime Minister, Luc Freedom.
06:45Sir, thank you very much for joining us on Euronews.
06:48I want to start with a question that may seem trivial, but on a day like today, it's important.
06:52How are you feeling?
06:54Nervous?
06:54Anxious?
06:55Concerned?
06:56No, you can't be nervous if you are Prime Minister.
06:59I think what matters is that we stay focused on our objective,
07:01and that is to provide Ukraine with necessary financial means to survive in this war,
07:07because it's a war against Ukraine.
07:09It's a war that jeopardizes everything that we have built up after the Second World War.
07:14Borders cannot be changed by force.
07:16And so we want to support Ukraine.
07:17Ukraine, and we are looking for the means to continue on a sustainable path to support Ukraine.
07:24You just said something incredibly important, which is this is not just about Ukraine,
07:28but it's really about the future and the fate of Europe after the Russian invasion.
07:33What happens if today there's no solution?
07:35Would you argue Europe will also be in jeopardy?
07:39No, I don't think so, but I think we will find a solution.
07:41We have two options on the table to support financially Ukraine.
07:46One is to use funds out of the EU budget,
07:49or to make sure that the assets, sovereign assets of Russia,
07:54that are with European banks, can be used to guarantee a loan to Ukraine.
08:00This is extremely complex, because it has never been done in the past,
08:03but I think we can find ways to organize that in a way that makes sure that it works
08:10without jeopardizing also the financial stability of the eurozone
08:14and making sure that Belgium, where most of those assets are located in Euroclear,
08:19will not be the target of retaliation measures or court cases in the future.
08:25And who's the biggest headache today?
08:27Because a lot will depend on Giorgio Manoni and Italy.
08:31Is it Orbán today the biggest headache, or maybe do we find ourselves in a strange situation
08:34where it's actually the Italian prime minister that you need to convince?
08:38We need to be supportive of Belgium,
08:42which is the main place where these sovereign assets are located.
08:46And I believe that if we take European decisions,
08:49we need to bear the consequences also together.
08:52We need to do some risk sharing here.
08:54And that is why I think we need to support Belgium,
08:58and we need to find a group of countries that share the same risks.
09:03We should all support them.
09:05But we know that some countries are more favorable to Russia than others.
09:08Unity is also essential.
09:10We need to work for unity.
09:11We need to discuss the future of Europe and security architecture of Europe.
09:16That is what is at stake.
09:17And I think that all countries, including those that you have mentioned,
09:20see that risk for the future.
09:22So you think the Belgian prime minister will be supported?
09:25You see him coming around because he's played a very tough game.
09:28I talked to him on many occasions, including yesterday.
09:32And I think we are moving into the right direction,
09:35but it will remain extremely complex.
09:37This is, as I said, from a legal point of view,
09:40this is extremely difficult.
09:41Because we don't want to do a confiscation of assets,
09:44because we need to keep the rule of law.
09:48Financial stability also means that assets that are in Europe
09:51cannot be taken away by a political decision.
09:54On the other hand, we must find a way either to use EU funds,
09:59so the EU budget, or to use Russian assets to guarantee for the future
10:04the loans that we are giving to Ukraine.
10:06And that is a complex discussion that we will have to have,
10:09but I'm optimistic that we find a solution.
10:11And you spoke with the Belgian prime minister,
10:13which is very on brand for the Benelux.
10:15What does your political instinct say?
10:18Is this something that he can come around and find a solution?
10:21How did you find this conversation? Constructive?
10:23Of course.
10:24I mean, Belgium is a country that is used to many compromises,
10:27but this is a compromise among all of us.
10:30Europe is a group of 27 countries,
10:32and we need to gather to find solutions.
10:35It's about the future of our continent.
10:37It's about whether we want a continent
10:38where force decides on how the future is decided
10:43or whether it's in a peaceful manner.
10:45And we want a peaceful manner.
10:46We know that we need to be more sovereign
10:48because America might not be there with us on all steps in the future.
10:53We have Russia, which is a permanent threat,
10:55and it's as a European Union for peace, prosperity, and security
10:59that we need to stand together today.
11:01And, Prime Minister, I must ask you a final question
11:03because along those lines of new relations that may emerge
11:06and new bridges that the European Union needs
11:09is the Mercosur, a major trade deal with Latin American countries.
11:12The French say they want to delay to this vote.
11:14It seems the Italians do now.
11:16What happens if this gets delayed again?
11:18Will you be furious, disappointed?
11:19Is this the end of it?
11:20If borders around us are being closed
11:24or tariffs are being introduced, we need new markets.
11:27And I think Mercosur, like other free trade agreements,
11:30serve our economy, create jobs in our countries
11:33because we produce goods that we need to export somewhere.
11:36And that is why, independent of when we sign,
11:39we should stick to what we have agreed to with other countries.
11:42And Mercosur is one of the examples,
11:45despite the fact that we need to take into account,
11:47of course, the concerns of our farmers.
11:49But that we can solve domestically or within Europe
11:53and at the same time opening markets for our industries
11:55in the rest of the world.
11:57Well, Prime Minister, thank you very much for joining us on Euronews.
12:00Of course, the coverage of this very important summit
12:03continues all day on Euronews.
12:06Thank you so much, Maria Tadeo there, Euronews's EU editor.
12:08And of course, to your guest, the Luxembourg Prime Minister, Luc Frieden.
12:11Now, how long the EU summit will last?
12:13Another big question on our mind.
12:15We're hearing the Danish ambassador has cancelled Christmas
12:18to make sure a deal for Ukraine is sealed.
12:20But beyond the politics of these EU summits,
12:23the logistics are also quite something.
12:25Our Jakub Yanis has been taking a look at the behind the scenes.
12:27It's the most wonderful time of the year.
12:34But perhaps for a different reason.
12:37Today, we start the final European Council summit of 2025.
12:43Topics include enlargement, the EU budget and support for Ukraine.
12:48Or to put it simply, love, money and war.
12:52Rumour has it only the sharpest students can tell the difference
12:57between the Council of the EU, the Council of Europe
13:00and today's suspect, the European Council.
13:04And I am sure you know it.
13:07But let's have a recap.
13:08Today's summit runs for two days.
13:14Inside, they will need 30 chairs.
13:1727 for national leaders, plus three special seats
13:21for Antonio Costa, Ursula von der Leyen and Kaya Callas.
13:26We have 24 official languages.
13:29This creates over 500 possible language combinations.
13:32In reality, most negotiations happen in English,
13:37even though the English have left the building.
13:41Finally, up to a thousand journalists, including us,
13:44attend the summit.
13:46That makes for roughly 33 reporters chasing every single leader.
13:53This week, the noise isn't just inside.
13:57A major farmer's protest is waiting outside.
14:00A megaphone hits 110 decibels.
14:04Or about as loud as a chainsaw.
14:07So our leaders will definitely hear them.
14:10Let us see if they can also listen.
14:13Well, here at Euronews, we've been listening to the farmer
14:20since 5am this morning, letting off fireworks
14:22and honking the horns of their tractors.
14:25They're, of course, protesting against the EU Mercosur trade deal.
14:28For more on that and all the news coming out of the EU summit,
14:31do keep an eye on our live blog on Euronews.com.
14:33Thanks for tuning in.
14:34See you again tomorrow on Europe Today.
14:36We'll be right back.
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