It became obvious that we had completely failed to impose rules on unbridled speculative capitalism. That destroyed financial systems, hollowed out state systems and deeply shook German social stability. Can you recall the debate about "locust" hedge funds - even if it's a terrible term. The speculator capitalists roamed the land, stealing the substance from companies and throwing away the shells. And we were powerless.

I want to end tax dumping. States that have a common currency should not be engaged in tax competition. We need a minimum tax rate and a European finance minister, who would be responsible for closing the tax loopholes and getting rid of the tax havens inside and outside the EU. It is also clear that we have to reach common standards in our economic and labor policies. We cannot continue to just talk about technical details. We have to inspire enthusiasm in Germany for Europe.

If cooperation among governments were the superior concept for progress in Europe, I'd be onboard immediately. But the problem is that cooperation isn't working.

We are seeing now that without the contribution of the Social Democrats, Germany cannot be governed. We are a proud and self-confident party. We should now act based on that pride, and not out of fear.

For me, respect is an extremely important political term. Since I began campaigning, it has been at the heart of each of my speeches. Many people have the feeling that politicians aren't paying a sufficient amount of attention to them. And then, when the refugees arrived on top of all problems, there was a feeling: You do everything for them, but nothing for us. This mixture of frustration and fear has led to this reaction. That is why it is so important to show these people: We respect you.

If Merkel has discovered Europe in a beer tent, I can only say: better late than never. Otherwise, it was the height of hypocrisy: The chancellor sat down for a beer with CSU Chairman Horst Seehofer, the man who after the election praised Donald Trump as a very resolute man.

We need economic growth in Europe and we need to find a solution for the excessive interest rates that are making it difficult for many countries to get their own debt under control.