Wednesday, September 28, 2011

EU's Barroso says Europe faces biggest test ever (Reuters)

STRASBOURG, France (Reuters) ? The European Union faces the biggest challenge in its history, as a crisis of confidence compounds economic and social problems, European Commission President Jose Manuel Barroso said on Wednesday.

"It's a crisis of confidence that has not happened for decades," Barroso said in his annual State of the Union address during a session of the European Parliament in the French city of Strasbourg.

Barroso also said Greece would remain a member of the euro single currency area and that if there was not deeper economic integration among European Union member states, the 27-member bloc faced fragmentation.

(Reporting by Luke Baker)

Source: http://us.rd.yahoo.com/dailynews/rss/economy/*http%3A//news.yahoo.com/s/nm/20110928/bs_nm/us_eurozone

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