We must stress that the euro has been beneficial to the European Union because, otherwise, in this context of international turmoil, every country would have to devalue their currencies.

I think that we must come together progressively, with the British, the Germans, the Spanish, the Italians and with the new members of the European Union, we must make an effort to forge closer links.

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.

Don't belittle the hurt that has been caused by the job-destroying machine that is the European Union.

There must be no question for us that we in the European Union and the eurozone stand by Greece in solidarity.

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