von Arndt Freiherr Freytag von Loringhoven, abstract

To achieve that, a constructive dialogue with the society is vital. People need to be given a convincing answer to the debt crisis. We must also fight increasing economic imbalances.

First approach to solve the problem is to practice an unprecedented degree of solidarity with those European neighbours, who are in a difficult market situation. Secondly, we are laying new foundations for a new stability culture in Europe. We are fixing the monetary union flaws with stronger fiscal and economic policy coordination.

Financial stability and solidarity can only be maintained if we will stimulate the growth. We need to look for "best practice" examples in Europe and strengthen our competitiveness. Unfortunately there is no magic formula to solve the debt crisis. A chance for that lies in uniting solidarity, solidity and growth.

The challenges of European Union are not limited with economic and monetary matters – new political and economic powers are emerging. The European model of shared sovereignty is unique and allows Europe to become a shaping power on the global stage and to have extensive partnerships with other global players.

There is no good future for the country without a united Europe. That is why Europe has to be the project of the future. The experience of the past should encourage us to overcome the current crisis and to develop in the future. We have to ensure that we have the confidence in Europe from the citizens, because they play the central role.

Read the full article of Dr. Freytag von Lohringhoven in German here.