Growth in any individual European country has to be the result of policies for growth pursued in that country consistent with budgetary discipline.

Italy needed structural reforms to become more competitive.

There was in Italy a hidden demand for a boring government which would try to tell the truth in non-political jargon.

It is very unusual for a country to ask guys who are not politicians to come and run the country.

A lot of the American press at the time was saying 'just watch what happens when Bertelsmann tries to buy EMI, that will be a moment of truth that will show the Commission's true colors.' Well, that deal never happened either.

I have the most profound respect for the Department of Justice and the FTC. We in Europe are a younger and I would say junior institution to the historical antitrust experience of the US.

If Spain goes under, Italy will come under even more scrutiny.