EU Commission Chief Jose Manuel Barroso said Tuesday that European economy still remains very volatile” despite some encouraging signs.
“The impact of the financial and economic crisis is still tangible in Europe, and we have much still to do,” Barroso said at a press conference Tuesday in Brussels with Lithuanian President Dalia Grybauskaite.
“We should avoid any kind of complacency,” he said. “The situation is very volatile, not only in Lithuania.”
“Several European economies are seeing encouraging signs of recovery, but firm recovery is not here yet,” Barroso said.
“Lithuania is still feeling the pain and has had to take very tough economic measures,” he said. “We are ready to support Lithuania if other kinds of support are needed.”
Germany and France have reportedly pulled out of recession last week, while unemployment in European countries is still rising as companies struggle to stay viable.
Analysts said much of the recovery is due to massive governments stimulus measures for businesses.
We need to keep a very determined action, do everything we can to exit the crisis and have a sustainable recovery, said Barroso.