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11 Sep 2013
Barroso calls for quick implementation of Eurozone banking union
FXstreet.com (Barcelona) - Europe is on a road to recovery, but efforts must still be made to prop it up, president of the European Commission José Manuel Barroso said on Wednesday, delivering the annual State of the Union speech. He listed unemployment as the the most burning issue to solve, as its current level is “economically unsustainable, politically untenable and socially unacceptable.”
Speaking at the European Parliament in Strasbourg, Barroso pointed to the recent improvements in the European financial markets as well as the better situation in Greece. “For Europe, recovery is within sight. Let's not overestimate the progress, but neither should we underestimate what has been done,” he said.
He called for a quicker implementation of the Eurozone banking union, which would help boost growth and employment. Finalizing discussions on the next EU budget was also listed as a top priority.
Furthermore, Barroso stressed the need for a tighter political union, suggesting that “Europe must focus on where it can add most value. It needs to be big on big things and smaller on smaller things.”
The European Commission president also referred to the chemical attack in Syria, which the EU condemns but still hopes to see the a conflict resolved through a negotiated settlement.
Speaking at the European Parliament in Strasbourg, Barroso pointed to the recent improvements in the European financial markets as well as the better situation in Greece. “For Europe, recovery is within sight. Let's not overestimate the progress, but neither should we underestimate what has been done,” he said.
He called for a quicker implementation of the Eurozone banking union, which would help boost growth and employment. Finalizing discussions on the next EU budget was also listed as a top priority.
Furthermore, Barroso stressed the need for a tighter political union, suggesting that “Europe must focus on where it can add most value. It needs to be big on big things and smaller on smaller things.”
The European Commission president also referred to the chemical attack in Syria, which the EU condemns but still hopes to see the a conflict resolved through a negotiated settlement.