EU chief Ursula von der Leyen warned Wednesday that Europe has "no time to waste" to boost its defences and competitiveness, as European lawmakers prepared to greenlight her new executive to start work.

Addressing parliamentarians in Strasbourg, von der Leyen said her team was ready to get to work immediately on rising to the bloc's mounting challenges -- most urgently the Ukraine war "raging at Europe's borders".

Appealing for a massive defence spending boost, she said, "We have no time to waste. And we must be as ambitious as the threats are serious."

From Russia's invasion of Ukraine to war in the Middle East, the mounting economic threat from China and the imminent return of Donald Trump to the White House, the European Union has its hands full.

"Our freedom and sovereignty depend more than ever on our economic strength. Our security depends on our ability to compete, innovate and produce," von der Leyen told lawmakers.

Ensuring a swift handover at the helm of the 27-nation bloc after European elections in June is seen as critical.

The new team should........

© International Business Times