Dear Prime Minister, 

Welcome.

I think you have one priority and that is to find a way out of the two crises we are facing today:  the eurocrisis and the crisis around our European values.

One thing is crystal clear; the half measures of the last two years haven't worked.

The bilateral meetings of Merkel and Sarkozy only calm the markets for 24 hours.

In the last days, the decision of Standard and Poor's has been attacked by all European leaders. 

And I have to say, I am no such a big fan of rating agencies, but instead of complaining about them, I think the European leaders should read their reports. 

Because, what they are saying is true.

They describe the lack of political courage and unity in Europe. 

They describe the wrong interpretation of the crisis. It's not only a fiscal crisis, but also a trade imbalance crisis. 

They describe the need to help in countries that are cutting their expenditures, so that they can also make some growth. 

They are right that the crisis is far from over, and that we still need a sustainable solution.

And everyone knows, what that is:  stability bonds, common bonds.  Choose the name.

A redemption fund, as the German economists proposed, or a full- fledged Eurobond market, as proposed in the Green Paper of the European Commission.

But colleagues, we have to do it now ! 

Have you read the opinion of Mr. Monti in the Financial Times today ?  

What he said, is crystal clear. He can do savings, he can do additional cuts, he can do whatever you want.  But he needs a lowering of his interests rates.  

Not tomorrow, but now. 6 -7% is not sustainable for Italy.

All the efforts he is doing now are in vain.  

They are eaten by the rising interest Italy has to pay. 

If we don't, the outcome is clear, more countries will follow Greece and the euro can disappear. 

Secondly, Prime Minister, we have also the attack on our values. 

Not only Hungary, look at Romania today ! 

The European Commission has started the infringement procedures on three specific issues against Hungary yesterday.

The European Parliament, I hope, will start with the application of article 7, next week.

My question to you is, what is the Council doing, what are you doing? 

My question is clear, shall you put this on the agenda of the next European Council?

I think it would be a mistake not to do that.

The core of Europe is our values, our liberties. 

So Prime Minister, good luck. 

I'm sure you will have a busy time.