Greece is and will continue to be part of the euro zone, which needs more integration and discipline to boost its credibility, the European Commission President Jose Manuel Barroso said Wednesday.
“For the euro area to be credible, we need to truly integrate” the euro area, Barroso said in a speech to the European parliament in Strasbourg, France.
Barroso also said that further changes to European Union treaties might be necessary to strengthen the bloc’s ability to respond to economic challenges.
He said the commission adopted Wednesday a proposal for a financial transaction tax that could raise over EUR55 billion per year.
(source: Dow Jones)
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