00:08in less than two months we hammered out a deal of more than 1.8 trillion euros and this response
00:19is massive compared to the size of its economy europe's response is greater than that of the
00:28united states or china i started by saying that the european council's agreement provided the light
00:36at the end of the tunnel but with light also comes shadow and in this case the shadow is in
00:48the form
00:48of a very lean long-term eu budget before we even started this budget had a whole of around 70
01:00billion euros because of brexit with one big member state less contributing good news is that we have
01:10managed to plug almost all of that gap that means that every country has to pay more honorable members
01:19allow me to come to another issue which is at the heart of what our union is all about
01:27our values these values including the respect for the rule of law and they are the very foundation
01:38of our union these values they are mandatory and they are priceless
01:45for the rule of law and they are priceless
01:46for the rule of law and they are priceless
01:46Grazie a tutti.
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