As I have said, we shouldn’t go to the extreme of over regulation. Rather, we should move towards greater accountability for our actions. How do we see things going forward? I had made a point earlier of saying that no one knows how deep or how much longer this crisis would last. But I want to stress now, this will not go on forever.
This institution would not be exposed to the same political conflicts of interest as the Commission, which has to assess whether national budgets comply with the Stability and Growth Pact and hammer out political compromises between the interests of the different member states. "Debt is a two-edged sword. Used wisely and in moderation, it clearly improves welfare.