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[...]As regards EMU reform, following the publication of the Five Presidents' Report, no-one should have any doubts what we need to do. Everything is crystal clear. The problem is member states' conflicting interests. One of the first effects of the Leaders' Agenda is the agreement to find potential solutions in the nearest possible future despite these differences. I will do everything in my power to take the first very concrete steps, by June towards establishing the European Monetary Fund and strengthening the stability of the Banking Union. I still believe that this is possible. In June it will become clear if I am an incurable optimist. But one thing I can promise you today. If we don't reach agreement by June, I will say precisely why it wasn't possible, and who is responsible.
As for the Brexit negotiations, we have managed to build and maintain unity among the 27. But ahead of us is still the toughest stress test. If we fail it, the negotiations will end in our defeat. We must keep our unity regardless of the direction of the talks. The EU will be able to rise to every scenario as long as we are not divided. It is in fact up to London how this will end: with a good deal, no deal or no Brexit. But in each of these scenarios we will protect our common interest only by being together. [...]
Finally, I would like to refer to an issue it would be hard to avoid being here in Strasbourg, namely the future composition of the European Parliament. For this topic, I have planned a special European Council in February next year. As you know, we must deal with this matter because of Brexit as well as the changing demography. I take all the proposals seriously that have surfaced in this debate, they are all interesting and pro-European ideas. I personally believe that the most natural solution would be to adopt a simple rule: fewer countries, fewer mandates. It is not only pragmatic and logical, but also what is expected by public opinion. Of course, such a solution in no way invalidates the idea of transnational lists. [...]