The European Commission said that lawmakers must find solutions to solve the Greek debt crisis along with securing the banking sector as they meet on October 23.
The European Commission President, Jose Manuel Barroso presented a roadmap to restore confidence in the euro area and the European Union, urging leaders to act firmly and quickly to support Greece, implement the expanded powers of the European Financial Stability Facility, and stimulate growth by providing policies to build better economic governance.
Confidence can be restored through an immediate deployment of all the elements needed to solve the crisis. Only in this way we will be able to convince our citizens, our global partners and the markets that we have the solutions that measure up to the challenges all economies are facing, Barroso said in a statement.
The President also stressed in the meeting with the European Parliament For confidence to return we need to fix the sovereign debt problem.
For confidence to return we need to fix the sovereign debt problem, Commission President Jose Manuel Barroso told lawmakers in the European Parliament.
Barroso also added that We must therefore urgently strengthen the banks, because, in fact, those two issues -- the sovereign contagion and the banks -- are now, whether we like itor not, linked.
This must be coordinated through the member states, the European Banking Authority, the ECB and the Commission.