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Friday 15 December 2017

EU chief defends the eurozone at summit

EUROPE did not attend the G20 summit in Mexico in order to receive economic lessons, said EU Commission chief Jose Manuel Barroso in a fierce defence of the handling of the eurozone crisis.

Mr Barroso said Europe was not to blame for the global recession and rejected criticism of the bloc's handling of the situation.

"Frankly, we are not coming here to receive lessons in terms of democracy or in terms of how to handle the economy," he said.

"By the way, this crisis was not originated in Europe.

"This crisis originated in North America and much of our financial sector was contaminated by, how can I put it, unorthodox practices from some sectors of the financial market."

Barroso said he expected G20 leaders to "speak very clearly in favour of the approach the EU is following."

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