By creating the European Central Bank, the member states exposed their own government bonds to the risk of default. Developed countries that issue bonds in their own currency never default, because they can always print money. Their currency may depreciate, but the risk of default is absent.

An open society is a society which allows its members the greatest possible degree of freedom in pursuing their interests compatible with the interests of others.

The main obstacle to a stable and just world order is the United States.

The hardest thing to judge is what level of risk is safe.

Economics seeks to be a science. Science is supposed to be objective and it is difficult to be scientific when the subject matter, the participant in the economic process, lacks objectivity.

The sovereignty of states must be subordinated to international law and international institutions.

We in the United States are very often - since we are a democracy and we have national interests, we've often made the mistake that a democracy has to adopt America's interests, and that is a contradiction because a democracy basically is people deciding what their interests are.