EU Commission President: Eurobonds Won’t Solve the Euro Crisis

ForexNewsNow | Published on September 15, 2011 at 3:47 am

ForexNewsNow – In the middle of a major financial crisis in Europe and while the euro is under the fire of speculation in the forex markets, the President of the European Commission, José Manuel Barroso, declared in the European Parliament on Wednesday that “[Europe] is facing the most serious challenge of this generation” in reference to the Greece debt crisis.

“It’s a struggle for the political future of Europe, as well as for European integration,” he added.

The solution to ending the crisis currently rocking the entire European Union lies in “further integration throughout the euro zone,” he added.

Nevertheless, the former Prime Minister of Portugal also acknowledged that this could not happen quickly, warning that “Eurobonds will not bring an immediate solution to all European problems.”

 

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