The fact that we're going through a crisis is an opportunity for Europe to be more coordinated and more integrated. We're actually talking about a European Monetary Fund or euro bonds about guarantees for countries about economic governance in the European Union. That shows the strength of Europe.

Terrorists have failed to trigger mass conflict between Muslims and non-Muslims in Europe. We should draw strength from that fact.

We've got to demonstrate why European unity and integration our vast single market our single currency equip us with the strength to embrace globalization.

So Europe needs to be competitive and we also need to be competitive if we wish to remain an interesting economic partner for the United States. This has to be done on the basis of strength of competitiveness.

It certainly is dangerous that there are only a few clubs left in Europe that can afford to pay millions. At the end of the day however the spectators decide the rates of pay - by watching the games and consuming the goods and services advertised on sports TV programmes.

Europeans say they are proud of their social fabric of strong rights for workers and the weak in society.

American high school students trail teenagers from 14 European and Asian countries in reading math and science. We're even trailing France.

In the post-enlightenment Europe of the 19th century the highest authority was no longer the Church. Instead it was science. Thus was born racial anti-Semitism based on two disciplines regarded as science in their day - the 'scientific study of race' and the Social Darwinism of Herbert Spencer and Ernst Haeckel.

You can find academic and industrial groups doing some relevant work but there isn't a focus on building complex molecular systems. In that respect Japan is first Europe is second and we're third.

I have the most profound respect for the Department of Justice and the FTC. We in Europe are a younger and I would say junior institution to the historical antitrust experience of the US.