borrell

Josep Borrell asks the European Central Bank and Member State governments “to do the opposite to what they are doing” to save the euro

November 30, 2011 07:10 PM | CNA

The former President of the European Parliament, Josep Borrell, believes that the European Central Bank must buy sovereign debt and that governments need to implement budget cuts at a slower rate in order to avoid a drop in economic growth. Borrell also stressed that “the worst is possible”, and that they must act quickly. However, he added that “the euro will not disappear” but if some countries were left out, “it would be a problem for everybody” as “it would cause a big mess”.