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.

In 2003, Helmut Schmidt said: Predatory capitalism exists, we have to civilize it and we can do that via Europe. He was right. We haven't tried hard enough.

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.

Donald Trump is betraying everything that made America great: tolerance, democratic institutions and respect for the individual. In that sense, Trump is the most un-American U.S. president that the country has had in a long time.

The Social Democrats have to listen to people who are attracted to the AfD party. That isn't a mistake at all. You can also win them back. Of course, there are a lot of angry voters who are ideologically charged. But there are also a lot of quieter voters who plan on voting AfD to send a message. We can never give up on them.

The ESM, the European Stability Mechanism, is not funded by Germany alone. Twenty-seven percent of the bailout package comes from Germany. Italy and France together cover a total of 38 percent. That's reality. It makes no sense to say that everyone wants to get at Germany's money.

Europe was founded as a community bound together by solidarity.