The unions still have a job to do, representing their members' interests to governments and parliaments. And I think collective agreements still have a role, alongside markets and laws.

For me, socialism has always been about liberty and solidarity, but also about responsibility.

Fundamentally, American society is composed of individuals who don't go out of their way to do each other favours.

The European model is, first, a social and economic system founded on the role of the market, for no computer in the world can process information better than the market.

Even in Britain, the trade unions tell me that employment contracts have less protection than in the past.

The problem with a purely collective system is not only that it requires economic growth, and the right sort of demographic trends, but that it prevents people thinking about their futures in a responsible way.

Contrary to what people say, my wife never turned me away from the presidency. She told me to reflect on it and do what I wanted.