Comments from German fin min Schaeuble:

  • Euro region governments must strengthen measures to improve competitiveness in order to take pressure off the ECB
  • Refugee crisis may see "difficult escalation," and the "day may come" when Germany has to close its borders

European politicians talk but no one took significant steps on structural reforms at the height of the crisis. Why would they do it now?

2016 politics is about winning the next election; nothing else matters.