You need a government that believes in government. It also believes in markets and wants to give markets the best, the greatest opportunity, but is trying to govern well.

To others, being wrong is a source of shame; to me, recognizing my mistakes is a source of pride.

The key problem is the debt restructuring in the euro zone. As long as the debt burden is not reduced, there is no chance of the weaker EU countries regaining competitiveness.

The worse a situation becomes the less it takes to turn it around, the bigger the upside.

When a long-term trend loses it’s momentum, short-term volatility tends to rise. It is easy to see why that should be so: the trend-following crowd is disoriented.

There is a well-established conviction that the central banks always do what is necessary to keep the system going and then afterwards you then take care of the legal aspects. In a crisis, you simply do not have time to think about such concerns for too long.

I call government that works the best for people open society, which is basically just another more general term for a democracy that is - you call it maybe a liberal democracy. It's not only majority rule but also respect for minorities and minority opinions and the rule of law. So it's really a sort of institutional democracy.