That, too, is part and parcel of being a role model. Nor is consolidation a growth brake, but rather a precondition for sustainable growth. More debt is no precondition for successful structural reform. Binding debt rules are a necessary, but by no means sufficient, condition for strengthening the principle of individual responsibility in a monetary union.
Tom Winterboer is the financial services industry leader for Africa and a member of the global financial services leadership team at PwC. You will be provided with his CV as part of the press pack and I would like to introduce him to you now.