European Union leaders arriving in Brussels Thursday urged a revolutionary change to rebuild military infrastructure after decades of neglect and create a brand new security architecture in order to counter Russia.

European Commission President Ursula von der Leyen said that even as “decades-old certainties are crumbling” in Europe’s relations with other countries, there’s no reason to de-risk the bloc’s relationship with the US.

The European Commission has vowed to speed up a planned review of the competitiveness of the bloc’s banks after the region’s three biggest economies demanded urgent action to ensure their lenders can properly compete with Wall Street rivals.

The European Union’s regulatory arm is planning to ask the banking industry for feedback on a proposal that would further delay the implementation of new regulations that govern their trading activities.

The European Union agreed to begin discussions on a long-term reform of its fiscal rules to allow member states to spend more on defense, following a push from Germany.

As trans-Atlantic relations grow increasingly fraught, Europe’s ESG regulations are becoming yet another flashpoint that threatens to sour ties.

Leaders of the European Union will call for increased flexibility in their funding rules to boost defense spending in the short term as the challenges posed by US President Donald Trump and Russia’s threat to the security of the continent are forcing a “once-in-a-generation” military build-up.