00:00What the Ukraine war has revealed to all of us is actually the weaknesses of being that open playing field.
00:07Europe is 20% more opened to global value chains vulnerabilities than any other markets in the world.
00:17So it's not surprising that the breaking down and the bottlenecks of global value chains affect European companies and us
00:25more than others.
00:25Second vulnerability that has been revealed and continues to be revealed by the war in Ukraine is that our sources
00:32of energy at large but also our sources of certain minerals that will prove extremely helpful and necessary for the
00:42next generation of our energy mix are actually located in countries that are not very friendly
00:50and can actually be extremely aggressive and terrible.
00:56So those two vulnerabilities are two that we had not paid enough attention to.
01:03Now luckily the European Commission that I'm not representing here but I would like to give them the credit have
01:09identified a list of products where we have vulnerabilities and where we are at risk.
01:15That's one of the areas where we have to fix vulnerabilities.
01:18That's one of the areas where we have to fix vulnerabilities.
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