But our system of regulation must keep up with this. If it fails to keep up, it will hold back economic expansion. We need financial market regulation that works at national and European level.

We in Ireland have not been immune from the bigotry and the indifference which manifested itself in Europe this century

Of course the EU and member states must work to ensure that people moving from one country to another understand their obligations and their rights in areas like health, road safety and further education.

U.S. companies earn more from their investments in the EU than in the rest of the world combined.

The time horizon may be too long for sole reliance on market solutions - but perhaps the inventiveness of the financial services industry will prove me wrong that point!

The EU and the U.S. often work together to develop international standards. This is the case in fighting terrorism and transnational crime, advancing trade liberalization, and combating piracy and intellectual property violations.

European investment in Texas alone exceeds all U.S. investment in China and Japan put together.