Thursday, June 24, 2010

Euro Currency cannot die says European Commissioner Chief:Strong Europe Economy

Euro cannot die says European commissioner chief:

European commissioner head Jose manuel Barroso denied that Europe was doomed, saying it was one of the strongest currencies in the world.when asked whether common European currency might not survive because of the economic disparities between the various euro zone countries, Barroso replied, :I do not share that analysis."
"The Euro is one of the strongest currencies in the world and ranked second as a global currency,"he said, adding, "We have a lower debt level then the United States or Japan" While admitting that certain euro zone countries has problems, Barroso added, "It is in the interests of all members of the zone and the countries which do not belong to it that the euro should be strong and credible."
He stressed the "determination of European Leaders to do everything necessary to maintains the euro stability, " pointing to a decision taken on Thursday at a Brussels Summit to publish the results of test of European bank's capacity to stand up to the economic crisis. European leaders has shown themselves capable of adopting measures "not only to strengthen pact but also to make progress on budgetary reform.