Massive progress has been made in the last five years. More progress has to be made in terms of fiscal union and banking union.

We cannot just look at a country by looking at charts, graphs, and modelling the economy. Behind the numbers there are people.

Those negatively affected by globalization, those who are losing their jobs, and losing their skills, people out of training, must be looked after. Governments must establish policies, and governments and companies must actually address that issue, so that those who lose out from globalization can be retrained, recycled, re-established, cared for.

Our fortunes rise together, and they fall together. 'All men are brothers,' said the Analects. We have a collective responsibility-to bring about a more stable and more prosperous world, a world in which every person in every country can reach their full potential.

I'm very much a believer that it's action that matters much more so than, you know, the flurry of political promises and statements and slogans that are used during political campaigns.

If inflation is the genie, then deflation is the ogre that must be fought decisively.

We draw many benefits from globalization that people take for granted. Poverty has been reduced massively around the world. If you look at the Chinese numbers, it is quite mind-boggling: 700 million people taken out of poverty in a matter of 40 years, the poverty rate having moved from over 30 per cent from hardly six per cent now. That would not have happened if there had not been globalization.