Eurocrisis 'not over yet'

Tens of billions of euros of cash has been flowing back into the crisis hit countries of the Eurozone.

But have the problems really been solved, as the markets seem to assume, by Mario Draghi's three little words - "whatever it takes" - or are the fundamentals as bad as ever?

Deputy finance minister of Germany - Steffen Kampeter, spoke to Today presenter Evan Davis about whether he believes the eurocrisis, in its most acute phase at least, is now over.

"I wouldn't say that the crisis is over but the indicators show it has calmed down," he said.

He explained that now "political debate and should focus on enhancing our competiveness in the Eurozone and in Europe in general".

First broadcast on BBC Radio 4's Today Programme, external on Tuesday 28 January 2013.