As Helmut Schmidt wrote in 2011, we should “strive to ensure that the historically unique European Union emerges unshaken and with self-confidence from its current period of weakness”.8 Thank you for your attention. 7  European Commission: “Making the best use of the flexibility within the existing rules of the Stability and Growth Pact.” January 2015.
8  Helmut Schmidt (2011) Speech “ Deutschland in und mit und für Europa”. 6  BIS central bankers’ speeches