Barroso urges eurozone stability, more action from Greece
(BRUSSELS) - EU Commission chief Jose Manuel Barroso said eurozone nations Thursday should "safeguard financial stability" as long as Greece does more to rein in its swollen deficit, a commission source said.
Barroso met several European leaders ahead of an EU summit in Brussels, outlining the broad lines of a possible action plan to support Greece and prevent its debt troubles hurting the whole 16-nation eurozone.
"Greece needs to do whatever is necessary, including additional measures, to ensure that the deficit reduction targets for this year are met," the source, who spoke on condition of anonymity, cited Barroso as saying.
"Secondly, in that case the euro zone members should be ready to safeguard financial stability in the euro zone area as a whole," Barroso continued.
"President Barroso is convinced that a solution can be found," the commission source said.
"This could amount to a political solution today which could then be formalised on Monday or Tuesday by EU finance ministers," he added.
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