Summarise the attributes of a nation, as Ernst Renan understands

Summarise the attributes of a nation, as Ernst Renan understands them.Why in his view, are nations important?

Ernst Renan was a French philosopher, who outlined the attributes of a nation which are as follows
(i) A nation is not formed by a common language, race, religion or territory.
(ii) To form a nation, social capital, common glories and deeds of the past and common will are necessary. A nation is the culmination of a long past of endeavours, sacrifice and devotion.
(iii) Nation is a large-scale solidarity, its existence is a daily plebiscite and its inhabitants have the right to be consulted.
(iv) The existence of a nation is not only a good thing, but also a necessity.
(v) A nation has never any real interest in annexing or holding on to a country against its will.
Nations are important because existence of the nation is a guarantee of liberty. Liberty would be lost if the world had only one law and only one master.