Moreover, resolving the mother of all problems - the Israeli-Palestinian question - requires cooperation between Europe and the U.S.

We must now face the difficult task of moving towards a single economy, a single political entity .. For the first time since the fall of the Roman Empire we have the opportunity to unite Europe.

Are we all clear that we want to build something that can aspire to be a world power? In other words, not just a trading bloc but a political entity. Do we realise that our nation states, taken individually, would find it far more difficult to assert their existence and their identity on the world stage.

The EU must take on new responsibilities. And these new responsibilities call for intensifying the integration process.

If you don't want to call it a European army, don't call it a European army. You can call it 'Margaret', you can call it 'Mary-Anne', you can find any name, but it is a joint effort for peace-keeping missions - the first time you have a joint, not bilateral, effort at European level.

I am not a newcomer, you know, so I want to be judged for what I did when I was prime minister last time in Italy and president of the European Commission for more than five years.

In the darkest days of European history, America stood close by us and today we stand close by America. Nothing will ever be the same.