The biggest danger to the European Union comes not from those who advocate change, but from those who denounce new thinking as heresy. In its long history Europe has experience of heretics who turned out to have a point.

We have a very long legal system with the European Union, and we're English speaking.

The UK is not going to leave the European Union. Of course not. We are inextricably wound up with Europe. In terms of culture, history and geography, we are a European nation.

We don't want protectionism at the heart of the European Union.

I interpret your question as applying more to financial stability in the euro area than to the euro itself. I do not think there has been a crisis. The euro is the single currency of 330 million people and enjoys a high degree of confidence among investors and savers because it has delivered price stability remarkably well over the last 11½ years. What we had was a situation in which a number of countries had not respected the Stability and Growth Pact. These countries have now engaged in policies of fiscal retrenchment that were overdue. They have to implement vigorously these policies which are decisive for the preservation and consolidation of financial stability in Europe.

The Ukraine has a long history of either being part of the Soviet Union or within that sphere.