BRUSSELS (MNI) – All of the European Union’s member states have to
make more of an effort to consolidate their public debts and redress
competitive imbalances, European Commission President Jose Manuel
Barroso said on Wednesday.
“All of our (27) member states have to make efforts to consolidate
their debts,” Barroso told reporters at a press conference in Brussels.
“For the stability of the Euro area and … the stability of the economy
in Europe,” he said.
Barroso was talking after a meeting with Belgian Prime Minister
Yves Leterme, whose country takes over the rotating presidency of the
European Union on July 1.
“I am sure that the Commission and the Belgian presidency will work
very closely together,” Barroso said. “There will be very challenging
times, these next months,” he added.
He said the main challenges facing Europe were about fiscal
consolidation and reducing competitive imbalances. It is “critically
important” to address these issues, Barroso said.
–Brussels: 0032 487 (0) 32 803 665, echarlton@marketnews.com
[TOPICS: MT$$$$,M$$FX$,M$$EC$,M$X$$$,M$$CR$,MGX$$$]
