This is to determine how detailed of its interventions

Europeans are forced step to replicate with this European stabilization plan, U.S. authorities have already done a year ago and a half in terms of massive support to the economy

This plan is not of the same nature. Here there is question of sovereign debt and financing for such economy needs. While the banking and financial crisis was caused by the foolish behavior of a number of banks, with consequences chain for taxpayers and public budgets. But that is another subject which requires political determination. And, on this point, the roadmap of the g-20, set in London and Pittsburgh, is extremely clear: no market, no product, no financial actor, no territory should remain from a smart regulation and effective supervision. Even if we do not always have the same terms and conditions on the basis of respective places of the banking sectors in Europe and the United States, we must have the same common will to implement this roadmap. This is what I came to check with our American partners.

Still unclear is the role that can play the European Central Bank (ECB), whose statutes limited the possibilities for intervention. Is this not a plan limit

Since the beginning of the financial crisis, the ECB continues to play its role under the leadership of Jean-Claude Trichet. She decided to intervene in the private and public bond market and strengthen the fluidity of the market. This is to determine how detailed of its interventions.

Will this plan give a final judgment to speculation against the euro

I think that markets have understood that the political response is at the height. At no time, Europeans who wanted this single currency will not accept that it is weakened. But we will not rest there. We will have to draw the consequences in terms of governance and fiscal coordination in the euro area. Each country must do its own work in terms of control of budget spending, debt and deficit.

Where are your differences with the US Treasury on the regulation of "hedge funds" (hedge funds)

The Treasury Secretary had written to me for me to share the concerns of hedge funds and investment firms. We will take into account the differences between these two sectors, which are not similar. We want that there is transparency and accountability, but without protectionism. There is a debate today between the Council of Ministers and the Parliament in Europe on hedge funds. I hope that we can conclude on transparent regulation without protectionism.

The "Volcker rule" on the dismantling of banking groups will it in the right direction

Our approach is not to separate activities. It is rather to have a comprehensive and effective of all banks, supervision even though they have mixed activities. It must be effective supervision for each financial company and external supervision that is binding on everyone.

US financial reform you seems it fast enough

On the regulation of derivatives and the "short selling", Americans are in advance. We will make proposals as early as this summer on the compensation of all derivatives markets, which represent huge amounts (600,000 billion) of which 80 are beyond control. On rating agencies or the implementation of accounting standards, we are more in advance. All the transactions on the financial markets are 80 of the trans-Atlantic transactions. We have a duty to act at the same time. I am concerned by the calendar: time to market is infinitely faster that time policy. Taxpayers or citizens accept that we do not draw the lessons of the current crisis.