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Mr Schäuble highlighted that the success of European unity is of existential interest to the Germans. What is good for Europe is good for Germany. Europe cannot be constructed according to the principle of hegemony. However, he said that Germany is regularly expected to take a leading role in close cooperation with France. After all, challenging issues can often only be resolved if Germany and France act in concert.
He also clarified some details of the new EFSF: “First, Germany's liability is limited to €211 billion -- or, to be more precise, €211.0459 billion. Second, we are boosting the effectiveness of the EFSF to achieve a greater stabilisation effect with these funds”, he said.
Mr Schäuble also mentioned that rescuing the euro depends on everyone in Europe assuming their responsibilities. This means that we help each other. But it also means that European assistance is there to help countries help themselves. Germany cannot solve Italy's problems in Germany -- they have to be solved in Italy. He also said that the crisis throughout Europe has helped raise awareness of the need for a culture of stability.