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It's not the main instrument to solve the problem. But you have to know if you are adding
year after year deficit with deficit, public debt to public debt, you cannot really overcome
the crisis we are in. We have highly indebted countries in euro area as we have to make
sure that all the euro area countries, the 17 countries, are heading in the same direction.
We have to impose in a way, compulsory way, budgetary discipline. There is no alternative
to budgetary consolidation and that's exactly what we are doing. But the problem we are
facing is not only a public finances problem, but the problem we are facing is a problem
with a large broadening of divergences between the different sub-economies of the UN. So
we have to put the focus on the narrowing of the competitiveness situation, of the different
euro area countries. We have to focus both on budgetary consolidation and on the improvement
of the competitive situation of the member states.
We have to better understand that the strategic relations between Russia and the Western European
world is to step away from what we have gone through during the Cold War -- that was the
real competition to put it frankly between Russia and NATO members. We are in charge
of peace and freedom of European continent. That's why we are saying and that's why I
am saying that there is a real strategic relation to be established between Russia and the European
Union. I do think that apart from the fact that Russia from time to time is behaving
in a wrong way that the European Union too is behaving in an improper way. For example,
as far as the visa question between Russia and European Union is concerned that we have
to make all the efforts which are requested in order to bring this issue to a negotiated
better end.
It's both technical and political, but I do think it's mainly political. We have to step
away from this Cold War atmosphere. We have to remember we were in the middle of the Cold
War. And some in the West, some EU members states are still considering Russia as being
not our partner, not our ally, but an ensemble we have to protect us against. That's my point
of view, I do think that nothing useful, nothing sound, nothing hopeful will happen in Europe
if on both sides we are not considering that we have to move in the same direction.
We are focusing on financial services, so we are as far as foreign direct invests are
concerned amongst the leading partners of Russia. But that's not the reason why we have
as strong relation between this huge great Russian nation and this small Grand Duchy
of Luxembourg. The reason is that we are trying to understand in better way than larger countries
are trying to do it the deep nature of Russia. We will never forget that Russia was amongst
the countries who liberated our country during the Second World War. Even those who are by
far younger than the real war generation, do know that Russian soldiers were dying on
our territory, do know that without Russia would never have our liberty and freedom.
And we are amongst those, and you have a few number of countries of that kind, who are
not lecturing in public Russia. We do have more or less huge differences when it comes
to human rights and issues of that kind.
And so I do think that the so-called popularity we have in Russia is due to the fact that
we are serious when it comes to common issues.