In 50 years, no one will care about the fiscal cliff or the Euro crisis. They'll just ask, "So the Arctic melted, and then what did you do?"
Governments must commit to sound economic and financial policies. This is how we ensure reform in the euro area - and our independence.
There is no better protection against the euro crisis than successful structural reforms in southern Europe.
Within our mandate, the ECB is ready to do whatever it takes to preserve the euro. Believe me, it will be enough.
If we do not resolve the euro crisis, we will all pay the price. And if we do resolve it, we will all benefit, particularly German taxpayers and savers.