There is no doubt that the countries that now have a very large debt have not introduced the kind of structural reforms that Germany did and are therefore at a disadvantage. But the problem is that this disadvantage is becoming even more pronounced through the punitive policies in place.

Whenever there is a conflict between universal principles and self-interest, self-interest is likely to prevail.

My main concern is with the world order

As I discovered, there is a great deal of similarity between a boom-bust process in the financial markets and the rise and fall of the Soviet system.

American supremacy is the greatest threat to the world today.

I am for maximum supervision and minimum regulation.

In 2012, the far-right Golden Dawn won 21 seats in Greece's parliamentary election, the right-wing Jobbik gained ground in my native Hungary, and the National Front's Marine Le Pen received strong backing in France's presidential election. Growing support for similar forces across Europe points to an inescapable conclusion: the continent's prolonged financial crisis is creating a crisis of values that is now threatening the European Union itself.