Lucas Papademos: Challenges for the European economy Speech by Mr Lucas Papademos, Vice-President of the European Central Bank, at the conference “The European Political Ideal: Cultural Origins and Future Challenges” organised by the European Cultural Centre of Delphi and the Konstantinos G Karamanlis Foundation, Delphi, 23 July 2007. * I.
*  *  Introduction  “There is nothing more difficult to carry out, nor more doubtful of success, nor more dangerous to handle than to initiate a new order of things.” These were the warning words of the Italian statesman and political philosopher Niccolo Machiavelli, back in the 15th century.