Too often we think we can act without explaining and take decisions without justifying them.
The markets don't like instability and they don't like uncertainty.
What we have to do is reinvent the idea of Europe.
Essentially we need a new social consensus for economic reform as New Labour has achieved in Britain.
I didn't mislead people. I know I didn't lie and I have got to establish that.
Of course, the EU is not going to fall apart, but at best it will stagnate for the foreseeable future and we will be dealing with quite a lot of internal chaos.