It also reflects the personal efforts of President Schulz, to whom I would like to express my particular thanks and appreciation. Let me add here that sharing sovereignty, however, does not mean losing national identity. There are many smaller countries – such as Malta and Luxembourg – that have not changed their individual character within the euro area.
This might not be enough, as the compass may not always be sufficiently precise. What’s important is to recognize such shortcomings and stand ready to address them.