There is no better protection against the euro crisis than successful structural reforms in southern Europe.

If we do not resolve the euro crisis, we will all pay the price. And if we do resolve it, we will all benefit, particularly German taxpayers and savers.

We won't make the weak stronger by making the strong weaker, as a very wise man once said. That applies to the economy as well. If Germany were less competitive, the euro area as a whole would lose, because less could be produced then.

Within our mandate, the ECB is ready to do whatever it takes to preserve the euro. And believe me, it will be enough.

Productivity growth is the only possible way to achieve prosperity.

I trust the people who are working with me. I delegate.

Governments must commit to sound economic and financial policies. This is how we ensure reform in the euro area - and our independence.