The Lady Mayor of the City of London, Dame Susan Langley DBE, yesterday (4 December) used a keynote address at a Guildhall banquet for Germany’s President, Frank-Walter Steinmeier, to call for deeper UK–EU collaboration on financing European defence.
With geopolitical tensions rising, she urged the UK, Germany and the EU to remove barriers to cross-border capital flows and better harness Europe’s financial centres to support increased defence spending and long-term security.
More than 600 guests, including Her Royal Highness The Princess Royal, Vice Admiral Sir Tim Laurence, senior political figures and business leaders from the UK and Germany, attended the banquet.
Lady Mayor of the City of London, Dame Susan Langley DBE, said:
“In these volatile geopolitical times, friends should work together – for prosperity yes, for progress yes, but importantly, because we share common values.
“London, as Europe’s leading financial centre, can provide access to global capital markets and bridge the investment gap on both sides of the Channel, strengthening, both our economies.
“And we must work with fellow financial centres, such as Frankfurt, making sure that we complement each other, that we maximise the flow of capital and investment effectively in both directions.
“This cooperation is vital not only for our prosperity but also for our security.
“The City welcomes the progress made at the EU-UK leaders’ summit earlier this year – including the Security and Defence Partnership – but we must build on this.
“We also welcome the Kensington Treaty between Germany and the UK, and the plans for improved defence cooperation – but we must deliver on this.
“We are all hoping for peace in Ukraine, but it would appear today, as though a peace deal is still some way away.
“Our two great countries and the rest of Europe, are fully aware of the potential defence risks, we now all face.
“Germany, the UK and many other European countries have made commitments to major increases in defence spending and this City will be an important source of the finance we need. With geopolitical turmoil, we do not have the luxury of time.
“Discussion is good. Action is better. Together we can both strengthen our economies and our security and find a way that we can work more closely together.
“This need to act, transcends political and geographical boundaries and I have always believed that where there is a will, there’s a way. Time waits for no man, or woman. And to fail to act, is to fail to prepare.
“We must avoid any barriers between us, if we are to rise to the challenges, we both face.
“I believe that the UK and Germany, as two of Europe’s leading economies, can step up to lead and be at the forefront to help drive the cooperation that we all need – between our governments, between our businesses and between our people.”
Photography credit: Ryszard Karwowski – Sharp Photography