In my view, we have to be very careful in considering exemptions, such as providing the possibility for countries to unilaterally modifying the value of their debt contracts. The euro, and its underlying institutional construction, is about respect for the law.
If any changes are to be made, they should be to strengthen these principles rather than to provide exemptions – dangerous exemptions which could undermine the stability and cohesion of the whole Union. Thank you for your attention.