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.

We're at a historical juncture: A growing number of people are declaring what has been achieved over the past decades in Europe to be wrong. They want to return to the nation-state. Sometimes there is even a blood and soil rhetoric that for me is starkly reminiscent of the interwar years of the past century, whose demons we are still all too familiar with.

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

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.

My worry is that Donald Trump may inspire copycats, also in Europe. That's why I hope Hillary Clinton wins.

I'm not a populist. But I try to present complicated issues in such a way that people know where I stand.

We now have two options: We can commence operations at the Hotspots in Italy and Greece and continue to do nothing - in which case they would soon be overflowing. Or we can show responsibility and organize a distribution system that takes into account the limits of each individual member state. Migrants, for their part, must recognize that, while they have a right to protection, they do not have the right to freely choose the country. In addition, it is clear: Not everybody can come to us.