As you may know, I spent a number of years studying at the University of Bonn. It was then that I got to know and appreciate the Rhineland region, and I’m always very pleased to have the opportunity to return – even though the subject I’m here to discuss this evening is extremely challenging.
More than three years after the onset of the banking crisis, and more than a year after the sovereign debt crisis first came to a head in the spring of 2010, the financial markets and people across the globe are still scrutinising the situation in the euro area.