Watch President Barroso's State of the Union Address
STATE OF THE UNION ADDRESS 2011
Updated 10 October 2011
"I will ask all G20 leaders to support a global financial transaction tax, part of which could go to the poorest people in the world."
As part of the YouTube World View series of interviews with world leaders President Barroso participated today in a live Interview, broadcasted in 11 languages. Economic issues dominated the top questions. The most popular question was about what went wrong in Greece and how to boost the Greek economy. President Barroso answered that "One country – like one family or like one company – can not live long time above its means. And Greece was doing precisely that." He also underlined that in the future there will be more integration of national budget and economic plans and also sanctions for those who do not comply with the rules. The President once again reiterated that we need a financial transaction tax so banks make a fair contribution to the costs of crisis and indicated that revenue from the tax could be used to fund development aid. The interview was live transmitted on http://www.youtube.com/worldview, Europe by Satellite and Euronews TV
Citizens can directly address the President as part of YouTube's World View series with world leaders. Everybody can submit questions in their own language and vote on the questions until 5 October. On 6 October at 10 a.m. CET, President Barroso will answer the top questions in a live interview, which will be broadcast on http://www.youtube.com/worldview, Europe by Satellite and Euronews TV.
Click here for more information: http://www.youtube.com/watch?v=2pU05h_PorY
"This is a financial, economic and social crisis. I believe we can say that the sovereign debt crisis today is, above all, a crisis of political confidence," said President Barroso in his annual State of the Union Address 2011 titled "European Renewal". President Barroso stressed that there are solutions to the crisis, which he later also presented. He outlined that "today, the Commission adopted a proposal for the Financial Transaction Tax," and added that also the banking sector should give contribution to the society. President Barroso concluded: "The reality today is that intergovernmental cooperation is not enough to get Europe out of this crisis, nor to provide a future for Europe."