Federal Minister of Finance Dr. Wolfgang Schäuble MdB spoke at ZEW on April 8, 2013 about the key role of the institutional framework for developing a strong European Union. Addressing an audience of about 400 guests, Schäuble highlighted Germany's role regarding stabilization and growth for Europe, especially in view of the European debt crisis. According to him, the comparably stable economic situation in Germany is mainly based on its well-performing institutional structures. Schäuble argued in favour of stronger European institutions and of necessary reforms. The goal is to restore and improve competitiveness in Europe, and many achievements have been accomplished since the beginning of the debt crisis, Schäuble said. According to him, embattled countries like Ireland, Spain, Greece, or Portugal are on the right track to achieving this goal.