 Distinguished heads of governments, distinguished heads of states, of course, dear partners and friends of the World Economic Forum, a very cordial welcome to the annual meeting 2022 in the spring of doubles. We are very glad to be together again in person, and of course we have a very rich program. The theme of our coming together is history at the turning point. Government policies, corporate strategies. We will focus the program mainly on four different areas. First, the war in Ukraine, the aggression on Ukraine. And I have the particular pleasure to welcome a very strong delegation from Ukraine among us, composed by members of the government, composed by members of the parliament, by the mayor of Kiev and his brother and other mayors, and of course also by the young generation. Can I ask all our participants from Ukraine to stand up and to give them a special welcome? This war is really a turning point of history, and it will reshape our political and our economic landscape in the coming years. But we also are at the tail end of the most serious health catastrophe of the last hundred years, COVID-19, and we have to reinforce our resilience against a new virus possibly or other risks which we have on the global agenda. We also have to address urgently the issue of climate change and all the other issues related to the preservation of nature. And finally, we look at the future of the global economy with great concerns. Too high inflation, too low growth, too many deaths, but what is particularly worrisome are the consequences such as falling back of hundreds of millions of people again into poverty and possibly tens of millions of people dying of hunger. We have to be really concerned about those issues, and that's what we want to do here during this meeting. So how can Davos contribute to improving the state of the world? First, we know that all those challenges cannot be met by governments alone, by business alone, or by civil society alone. We need collaborative efforts. And the World Economic Forum here, Davos here, you here, I think it's the most impressive community for global cooperation. Second way of contributing to makes this a better world is to look at all those issues in a holistic way. Global economic social and ecological dimensions of every issue today are intertwined. So here we are, and you may ask, why do we have 400 sessions? It is to deal with all the aspects of our global system. And finally, when I looked at the short video, I was thinking, should we have an atmosphere of optimism or pessimism? I think we should be joyful and grateful that we can meet again here in person. It's so important because confidence can only be built by personal contact. But let's also be clear, the future is not just happening. The future is built by us, by a powerful community as you here in this room. We have the means to improve the states of the world, but two conditions are necessary. The first one is that we act all as stakeholders of larger communities, that we serve not our only self-interests, that we serve the community. That's what we call stakeholder responsibility. And second, that we collaborate. And this is the reason why you find many opportunities here during the meeting to engage into very action and impact-oriented initiatives to make progress related to specific issues on the global agenda. So I'm sure that we will have a very successful meeting by working together, and it's now my great pleasure to introduce the President of the Swiss Confederation Ignacio Cassis. And I want to use this opportunity, Mr. President, to thank you for the great hospitality, for the cooperation we had with our host country since over 50 years to make this meeting possible in Davos. And I want to thank also the representatives of the canton of Carlbinden and the authorities and the population of Davos. Thank you for your great hospitality here in this global village of Davos. Again, a very cordial welcome to all of you, but in addition, I should say at the end, and I spoke about the forum as a stakeholder community, I would like to, in addition to the political representatives, the forum is the international organization for public private cooperation, so your presence, the heads of over 50 governments, the ministerial delegations is so important. But I want to thank you also, our partners, our business partners. You have kept your loyalty to the forum, despite the facts that we couldn't meet for quite some time. And I want to greet also the representatives of the, of our young generation, which we have here, of our social entrepreneurs, so it's really the best mix to make progress in dealing with the issues on the global agenda. Now, Mr. President, I invite you to take the floor and to give us our welcome, your welcome address. Thank you. Thank you. Dear Professor Schwab, ladies and gentlemen. The annual meeting in Davos is a retreat from everyday life. The distance is intentional. Being removed from everyday life does not mean being removed from reality. By withdrawing, we give ourselves the time to think and, in return, the possibility of being rewarded with fresh solutions. This is why we are here. My heartfelt thanks go to Klaus Schwab, the spiritus rector, as well as to the organizers. And of course to you. Thank you all for coming. For many the past decades, the past few decades have been decades of hope. Hope that the order established after the Cold War wouldn't endure. There were setbacks, of course, but overall things were looking up. Open world markets and technological progress generated prosperity for hundreds of millions and provided a boost for more democracy, freedom, and stability. Yet the economy and the public believed, what states, the economy and the public like to believe, namely, that things will carry on as they are. This deceptive foundation of apparent, of apparent security induces us to underestimate our own vulnerability. Folks who believe that the factors that contribute to success are constant easily overlook the risks of growing nationalism, hunger for power, and protectionism. But suddenly the foundations upon which such hopes are built fall apart. One crisis collides with the next. First the financial crisis, then climate change, the pandemic, and on the 24th of February, Russia's attack on Ukraine. Almost overnight, this war of aggression reduced the sovereign state to rubble, turned cities into graveyards, robbed the people of its livelihood, and shattered an era of hope. This war, as a total disregard for everything the community of states has achieved in decades of civilizational progress. In view of this brutal violation of international law, especially international humanitarian law, Switzerland has strongly condemned the war and adopted EU sanctions. Ladies and gentlemen, Switzerland's clear stance has surprised many. There were questions at home and abroad, questions as to how this could be compatible with our neutrality. The answers to these questions are important, especially in a situation of geopolitical turmoil. So why did we take this decision? Democracy must be stronger than tyranny. International law stronger than submission. Law stronger than power and self-determination stronger than oppression. There can be no neutral attitude towards the brutal violation of fundamental values, which are also our values. For these values, they stand for freedom itself. Passivity tolerates the violation of law and can play into the hands of the aggressor. And this is why Switzerland stands together with those countries that will not stand by impassively in the face of this attack on the very foundations of democracy. This cooperative neutrality is a reflection of Switzerland. Cooperative as a neutral country that works to strengthen its own and generally shared values. Cooperative as a neutral country that works towards safeguarding its own and collective peace efforts. Cooperative as a neutral country which is committed to a rule-based and stable security architecture that can only emerge on a multilateral basis. Neutrality that does not mean standing on the sidelines. The political twin of our neutrality was and is solidarity. Switzerland's neutrality has never been rigid but has always been evolving. For the world, never stands still. Conflicts and their effects have become more international. Together means that thinking in larger terms is becoming more important. When our democratic environment is threatened and internationally agreed values are shaken, Switzerland too is threatened. And that is what we are currently experiencing. Our room for manoeuvre is limited by the law of neutrality. On the basis of the Hague agreement, the following principles are applied to Switzerland. There are four principles, no participation in wars, second international cooperation but no membership in any military alliance, three, no provision of troops or weapons to warring parties, four, no granting of transition rights. Three shows that wars always have their afternars. When that time comes, Switzerland is ready to act as a mediator to facilitate talks and create platforms so that they may take place. Last July, the first Ukraine reform conference took place in Vilnius. The aim of these international reform conferences is to support Ukraine in the areas of democratization, decentralization and modernization. The fifth conference organized by Ukraine and Switzerland will take place in Lugano, Switzerland in early July this year. But this time it will be a recovery conference. Because when the war is over and the weapons fall silent, all our efforts will be focused on rebuilding. The path to reconstruction and addressing the economic consequences of the war will be channeled through a broad-based political and diplomatic process. The conference in Lugano will provide an opportunity to discuss this complex path to recovery with all key stakeholders for the first time. It will mark the international kick-off for the recovery process for Ukraine. Last week, 40 countries and 18 international organizations have been invited to attend this high-level meeting. And Switzerland is offering to host follow-up conferences to address further steps, if necessary. Even if the end of the war is not yet inside today, it would be unforgivable to wait any longer before starting to reflect on how to organize such efforts and on the role of national and international institutions, and so risk-closing valuable time. I'm truly delighted to be able to host the conference in my home canton of Ticino. Ladies and gentlemen, war is synonymous with instability. The safety of rather geopolitical security architecture is being shattered and other principles of civilization as well. Against this backdrop, there are many questions. We will discuss those questions as part of this world economic forum. There is a risk of increased polarization, that is a reality, but what does it mean for global markets? What does it mean for economies and for prosperity at the end of the day? Let me outline three scenarios, which may serve as a starting point for your discussions. The first scenario, which brings the highest risk, is that of sectoral globalization. The forming of blocks leads to separate economic areas, as well as closed regional networks. This is a model that entails considerable risks, including polarization, exacerbated hegemonic politics, cold wars over trade, a weakening global regulatory system, a blocking of trade, which means serious threats to prosperity. The second scenario is that of a weighted retreat from hyper-globalization. It comes with strategic calculations for re-nationalizing resources, value chains, and production processes of systemic importance. This will lead to reduced interdependence, less risk, and fewer suppliers. The trade-off is higher product prices, since this targeted refocusing inevitably brings efficiency lawsuits. This second scenario could possibly represent a transitional solution. Now, the third and last scenario is one of stronger targeted multilateralism. And this is the way forward, as far as I'm concerned. Today and tomorrow, stronger targeted multilateralism and a renewed focus on the core tasks is the way to get past the dashed hopes. Multilateralism must chiefly focus on those major issues that cannot be dealt with in isolation. Issues such as climate pandemics or extreme poverty, issues such as global financial crises, trade blockages, or energy supply. We're seeing this today, issues such as the risk of war or mass migration. So let's think decisively about focusing rules and institutions on the most pressing geopolitical risks. The existing multilateral institutions, such as the UN or the Bretton Woods institutions, do cover these issues, but they are repeatedly blocked by conflicting interests. That tendency is increasing. And because timely and decisively multilateral action is imperative in these key areas, rules and reforms are needed to ensure well-established and bindingly accepted political coordination that is up to meeting these new challenges. Three scenarios, one broad framework. Perhaps your discussions will take you in other directions. That doesn't matter. What matters is that such discussions take place without moralizing and remaining open to a broad range of opinions. Solutions do not emerge from an exercise in groupthink. They emerge through open dialogue because conversations are the basis for any new solutions. That is what it is all about here in Davos, too. I thank you, and I wish you lively and fruitful discussions. Thank you, Mr. President, for those kind words. Thank you for your special address. Thank you for outlining the world as we know it. We are waiting now for our opening speech, speakers, President of Ukraine. So I ask you just to have patience for a moment.