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EU's Barroso welcomes US Senate backing for rescue package

02 October 2008, 12:24 CET

(BRUSSELS) - European Commission chief Jose Manuel Barroso welcomed the US Senate's backing of a vast rescue plan for the crisis-struck financial sector as a "step in the right direction", his spokesman said Thursday.

"President Barroso is pleased with the vote in the United States Senate on the adopted ... plan. He has qualifed it as a step in the right direction," spokesman Johannes Laitenberger told journalists.

The US Senate resoundingly passed on Wednesday a sweetened 700-billion-dollar Wall Street bailout, spurring hopes the House of Representatives would follow suit after killing an earlier bid.

"At this point it is quite necessary to inject confidence in the markets so this is heading in the right direction," Laitenberger said. "We certainly hope that others will follow."

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