If you live beyond your means and have to restructure as a result, you pay a price.

The significant collapse of oil prices shows that it was previously way too high.

If we want to avoid a clash of cultures - and the jury is still out on whether we can - we'll have to make different cultures and religions compatible with the universal nature of human rights and tolerance. But I can promise you this: Anyone who calls me an infidel at the conference will be in for a fight.

If we want to make Europe stronger, then each country first has to ensure that it becomes stronger itself. This applies to Italy and France, and it applies to Germany as well. Subsequently, we in Europe need to discuss how we can improve the community. That is the correct order.

I think we will have to spend more on defense, for infrastructure, for extension of the broadband network and also for domestic security.

Europe has grown through crises. Each crisis also presents opportunities, and Europe has emerged stronger from each one. That is the way history unfolds. Europe is sometimes slow, and it reacts sluggishly, but it is capable of finding solutions.

Greece's debts are all denominated in euros, but it isn't clear who holds how much of those debts. For that reason, the consequences of a national bankruptcy would be incalculable. Greece is just as systemically important as a major bank.