Convincing the people of Europe that all European citizens will be better off thanks to these reforms is absolutely key. The success of Ireland was largely due to the fact that the Irish citizens were rightly convinced that this road map would improve their own situation. Moving to the second topic of my speech, i.e.
fiscal policies, let me stress that we Europeans have been very bold in creating a single currency in the absence of a political federation, a federal government and a federal budget at the euro area level.