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Barroso: “We Must Complete Europe” (Part 1)

Published: August 30, 2012; 12:53 · (Vindobona)

At the Alpbach Economic Symposium 2012, the President of the EU-Commission José Manuel Barroso explained the “logic of integration”. In order to meet new challenges, the EU has to promote integration, Barroso says.

Barroso: “We Must Complete Europe” (Part 1) / Picture: © Vindobona

“We need more integration, not less.” Barroso says and refers to three major “storms”, from which Europe suffers. First, there is the debt crisis of the states. The second impact would be the financial sector crisis. The third problem would be the shrinking competitiveness of several member states.

According to Barroso, the European Union would be the “shield that can protect us from these storms”. More integration would be needed, not less, he argues. The European path out of the crisis would have two tracks, Barroso says: stability and growth. Without stability, there is no confidence, he states.

The real challenge, Barrosos emphasizes, is to deliver a short-term stability while at the same time, a vision for Europe must be delivered. “We must develop a Europe which delivers sustainable growth and employment and defends our values and our social model. Morever, we must do all this in a rapidly changing world.”

Barroso tries to explain why there is a need of a united and integrated Europe. “Because we have a monetary union, but the crisis has demonstrated that there is a cumulative logic to the integration process: a monetary union cannot function without a financial and banking union and without a further fiscal and economic union.” However, the logic of integration cannot be purely economic, Barroso underlines.