Bloomberg News

Global Economies Must Put Their Houses in Order, Van Rompuy Says

October 17, 2011

Oct. 17 (Bloomberg) -- European Union President Herman Van Rompuy said economies around the globe must work together to solve the debt crisis while at the same time putting their “own houses in order.”

“We must adopt a comprehensive approach,” Van Rompuy said today in a statement after meeting with labor and employer leaders in Brussels. “The European Union is not alone in experiencing growth problems,” he said.

“Our major global actors are confronted either with high government deficits and sluggish structural economic growth, or with inflation and a counter-inflationary policy,” Van Rompuy said. “We all have to put our own houses in order and also work together.”

In the Europe, “we shall have to join forces to avoid a very strong growth lag and pursue a policy to stabilize the euro area,” he said. “We must therefore ensure that the inevitable budget restructuring is as growth- and job-friendly as possible.”

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


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