EU Barroso Europe Needs a New Direction

The President from the European Commission wrote an editorial article for the Financial Times. Here are a couple of excerpts:

In Europe, the crisis continues to be felt by many. We are taking important decisions but we have not yet convinced citizens, markets or our international partners. Doubts persist over whether some countries are ready to reform and others are ready to show solidarity.

Europe needs a new direction. Europe needs new thinking.

This means accepting that we are all in the same boat. We must leave no doubt that we are determined to stick together and reform together to achieve the scale and efficiency needed to be a relevant global player and safeguard our values in a changing world.

The European Banking Authority, based in London, will keep all its powers to solve disputes and uphold single market rules also vis-à-vis the ECB. There will be changes to the EBA voting system to ensure that decision-making is balanced and ensure a fair say for everyone, whether they are in the euro area or not. No one is more committed than the European commission to making sure no new walls are built in the EU.

For the full editorial article read the Financial Times

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza