We, the Social Democrats, are convinced that capitalism needs to be tamed a second time. The first time we achieved that in Germany for many decades with the social market economy. That is no longer enough. Now we need to do it in Europe and even globally.

The G8 nations, together with the five major emerging economies of China, India, South Africa, Brazil, Mexico, use almost three-quarters of the Earth's biocapacity - the capacity of the world's ecosystems to produce natural resources and to reduce harmful substances.

We need a greening of globalisation.

However, I have a low opinion of people with narrow political horizons. Someone who talks about the environment and knows nothing about economics can make as many mistakes as someone who does the opposite.

Less and less is the question being asked as to whether developments are taking place in a democratic and free way. Europe is in a phase in which this output is no longer sufficiently visible or tangible. Youth unemployment is still far too high, we still haven't solved our currency problem and living conditions in Europe are drifting apart. That is one reason why critics say that our Europe is based on yesteryear's model.

When you think back today to a time more than 70 years ago when Germany was a terrible place, a place people were afraid of, it is a wonderful development that we have gone from being a terrible place to a place that people dream of.

Iran is the only country in the world that's threatening to erase another country from the map as part of a collective genocide.