There you see how absurd the reactions of the so-called markets are. For a long time, Italy was run by one of the most unprofessional politicians anywhere. But there wasn't much pressure in terms of speculation. Now, in Mario Monti, Italy has the kind of leader you usually only get in Hollywood movies, a distinguished professor who won't even accept a cook at his residence, the Palazzo Chigi. Instead Monti's wife cooks their pasta herself - and this is the man the markets don't trust.

When we were negotiating the ongoing financial period in 2013, I talked myself hoarse. London and Berlin in particular insisted on reducing the budget. So we - to the applause of German journalists - made cuts to central future-oriented areas and slashed the budget for development aid, research and technology.

We need a big debate in society about how we are going to shape Europe and tame capitalism. A government must provide direction and make concrete proposals. It is one of Angela Merkel's biggest failings that she doesn't do this.

We all have to accept accusations that we ignored the refugee crisis for far too long. The first time that I referred to the Mediterranean Sea as Europe's cemetery was in October 2013, when hundreds of people drowned off Lampedusa. Italians, Maltese, Greeks and Spaniards have been pleading for help for years. But nobody cared.

Before we talk about further accessions, we have to consolidate the European Union internally. People are increasingly losing faith in the EU's effectiveness.

It is courageous to occasionally admit that there are certain things one can't do.

We must now, in the 21st century, protect democracy, one which rests on fundamental rights for all, regardless of skin color, gender, race or religion. Nothing less than that is at stake.