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

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

The insurance companies do not refer to the key policy rate when they send their statements. We can only control that rate. Long-term interest rates are determined largely by global financial markets.

In Latin you say: "Repetita iuvant - to repeat is beneficial". The fewer changes made in a country, the more often I repeat my messages. And it works.

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

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.

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