America knows it has got to deal with its deficit problems so that it, too, can promise it is making its proper and best contributions to the world economy.

Rigorous financial discipline that, together with monetary stability, ends once and for all the boom and bust that for 30 years has undermined stability

So another challenge for our generation is to create global institutions that reflect our ideas of fairness and responsibility, not the ideas that were the basis of the last stage of financial development over these recent years.

I'm a father; that's what matters most. Nothing matters more.

When the strong help the weak, it makes us all stronger

No one should be held back from realising their potential by fears that they will not be able to afford to go to university or that they will graduate with unmanageable levels of debt.

Our approach is to reject the old vicious circle of the '80s-rising debt, higher long-term interest rates, higher debt repayment costs, lower growth, higher unemployment, then enforced cuts in public spending. That was the old boom and bust.