"There is no politician who will ignore the laws of physics when building a bridge. But there is a tendency in politics in every country to suppose that the laws of economics are flexible and can be adjusted to political necessity. At some point this belief has led to a lack of focus on economic realities in Europe."
"The art of economic policy making is reconciling the political and the technical or arithmetic imperatives. You cannot move forward in democratic nations without sufficient political support, and all the political support in the world will not repeal the laws of economic arithmetic. But we ask our political leaders not simply to take the preferences of their citizenry as a given, but to help guide those preferences in response to necessity."