Speaking at the Alpbach Economic Symposium in Austria today, European Commission President José Manuel Barroso emphasized further integration and strengthening of the European Union as the key to overcoming the euro crisis. He announced that on September 12th, the European Commission will outline proposals for a European banking union.
“This is the next concrete and immediate deliverable of our vision to generate confidence in the future of the Euro area,” explained President Barroso. “This is action now – even if deeper economic integration does of course require a longer perspective.”
President Barroso also highlighted the need for continued structural reform, on both the national and European level, in addition to smart targeted investment from an EU budget focused on growth.