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The time horizon may be too long for sole reliance on market solutions - but perhaps the inventiveness of the financial services industry will prove me wrong that point!

We need less theoretical debate and more practical application and acknowledgment of what Europe can and does do so that it is brought home to people in a relevant way.

What we should be doing in the EU as a whole is more economic integration in the single market, rather than less.

Companies in Europe should stop trying to do the U.S. version of a European idea.

On the one hand, the financial projection is on the agenda - we will see if this problem can be resolved or not. I think it is a right idea to stage a special summit, which would deal with the question of priorities of European politics.

These are national problems that require national solutions.

But I think we need the international market.

I'm not saying my idea is the one and only idea. We should have other ideas, but the president has not laid down a specific plan as to how he's going to get us to solvency. I do that.

We find that no matter what country we're in, if we hit the right economic notes and appeal to the mass market, we're able to build the business very, very rapidly.

But we can turn challenges into opportunities if we look outwards to the realities of the global economy and modernise our internal institutions in ways that will equip Europe to meet that challenge and create confidence amongst the public.