Bloomberg News

Cutbacks Alone Won’t Solve Europe Debt Crisis, EU’s Barroso Says

October 13, 2011

Oct. 13 (Bloomberg) -- European Commission President Jose Barroso said cutbacks alone are not enough to tackle the debt crisis.

“To focus solely on cuts suggests that government overspending was the only source of the crisis,” Barroso said at a Friends of Europe conference in Brussels today. “The commission does not believe cutbacks are the solution.”

“Confidence is now the most important capital,” Barroso said. “And is now in short supply.”

To contact the reporter on this story: Aoife White in Brussels at awhite62@bloomberg.net

To contact the editor responsible for this story: Jones Hayden at jhayden1@bloomberg.net


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