European Union Head Warns About Delaying Needed Reforms

The head of the European Union’s executive has warned that the bloc must not ease off on reform as growth edges back to the economy.

In his annual state of the union address, Jose Manuel Barroso said there was “no way back to business as usual”.

“The recovery is within sight,” he said, but warned it was fragile and that political leaders must “keep up our efforts”.

He urged the eurozone to press ahead with the creation of a banking union.

Mr Barroso, president of the European Commission, said the union must complete the project to “make sure that taxpayers are no longer in the front line to pay” when banks failed.

via BBC

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