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Barroso: Euro crisis is 'very serious'

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Published on Jul 20, 2011

At a press statement today in Brussels, speaking ahead of tomorrow's Euro area summit, José Manuel Barroso, EC President, urged EU Member States to show European responsibility and commit in getting Europe out of the debt crisis.

The situation is very serious and it requires a response, the President of the European Commisison told journalists.

He said he expects the EU Heads of State or Governement to agree on measures to ensure the sustainability of Greek public finances; the feasibility and limits of Private Sector involvement; the scope for more flexible action through the European Financial Stability Facility (EFSF); the repair of the banking sector still needed; and measures to ensure the provision of liquidity to our banking system.

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