Economically and politically, Germany is extremely stable. There are countries with functioning governments whose institutions don't work. My only concern is about Europe. There's a risk we will run out of time. We have been blessed with a pro-European French president, but we are also approaching the next elections for the European Parliament in 2019, and it will be important for pro-European parties present a credible answer to the anti-Europeans on the left and the right.

Finding the right form of debate regarding Israeli policies will remain a challenge in Germany. Even with every conceivable and warranted criticism, the danger always arises that it will be exploited by those who consciously or unconsciously present anti-Semitism in a new guise.

It is clear that Germany needs a foreign policy in which we jointly define European interests. Thus far, we have often defined European values, but we have been much too weak in defining mutual interests. To preempt any possible misunderstandings: We cannot give short shrift to our values of freedom, democracy and human rights.

The truth is that we have long had a multi-track Europe with very different objectives. The traditional differences between the north and the south in fiscal and economic policy are far less problematic than those that exist between Eastern and Western Europe. In the south and east, China is steadily gaining more influence, such that a few EU member states no longer dare to make decisions that run counter to Chinese interests. You see it everywhere: China is the only country in the world that has a real geopolitical strategy.

The claim that democracy and efficiency are contradictory is nonsense. That's evident in the history of democracy itself, because it is only democrats who were and continue to be capable of learning from mistakes. A more appropriate question is to ask whether a country like China, which has been so incredibly successful economically, is actually inefficient in light of its environmental destruction and its corruption. In China's perception, however, the democratic model is doubtlessly inferior.

I am certain that the United States next year, under a new president - regardless whether it's Obama or McCain - will present an ambitious program promoting renewable energies and energy efficiency. Europe could quickly fall behind.

A major danger for us Europeans: We must demonstrate that those who have this view of us are mistaken, that we can come to agreement, that we as a community of democratic and free nations are economically successful and are gaining political influence. To do so, we must learn to project our power.