10.11.2011 - 03:28 [ Guardian ]

European debt crisis spiralling out of control

The president of the European commission, José Manuel Barroso, issued a new call for the EU to „unite or face irrelevance“ in the face of the mounting economic crisis in Italy. „We are witnessing fundamental changes to the economic and geopolitical order that have convinced me that Europe needs to advance now together or risk fragmentation. Europe must either transform itself or it will decline. We are in a defining moment where we either unite or face irrelevance,“ he said.