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Preparation of the European Council: extracts from the press conference by José Manuel Barroso

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On the eve of the European Council, José Manuel Barroso, President of the EC, said that Europe can bounce back from the financial crisis if it takes the right decisions. He said that through coordinated action, the EU has shown its capacity to act, but added that even if "we see light at the end of the tunnel, we are not there yet". José Manuel Barroso added that it is necessary to look on the long term and rethink regulatory and supervision rules for financial markets. He said that once "we have put financial markets back on their feet, we must ensure that in the future they function properly for the benefit of citizens and businesses". On EU climate package, he said that Europe must respect the goals that were fixed one year ago because "climate change does not disappear because of the financial crisis".
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Type: EbS   Reference: 59416   Date: 14/10/2008   Duration: 00:03:28
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