• Eurozone is suffering from a crisis of confidence
  • Investors are worried that the crisis is not being mastered, and that some countries will not repay their debts
  • Eurozone needs stamina to overcome the crisis
  • Still against joint euro-area bonds
  • Unit labour costs are still too high in the Eurozone
  • Worth every effort to make a competitive Europe, must face up to economic gaps honestly
  • Is in favour of EU banking supervision, but it can’t be rushed ( no signs of that anyway)
  • There should be no bank recapitalization without a more common oversight
  • Committed to a balanced budget by 2016
  • Germany has no plans for extra tax on high earners