“European leaders are on borrowed time to save the Euro” - Sharon Bowles MEP
October 21, 2011 2:31 PM
Speaking at the Association for Financial Markets in Europe's 6th Government Bonds conference in Brussels today, Sharon Bowles MEP, who chairs the European Parliament's Economic and Monetary Affairs Committee, gave a stark warning to European leaders who will be attending the European Council meetings next week, that the stakes have never been higher.
Ms Bowles also warned that, now more than ever, Europe was in need of enterprising and comprehensive measures to stave of the crisis and restore confidence to the markets.
Sharon Bowles MEPsaid:
"European leaders are working on borrowed time to come up with viable solutions. They have to sort out a plan for Greece, recapitalise banks, and work out how to get more bang for their buck out of the European Financial Stability Facility.
"Two out of three of these will not be good enough if they want to create a credible framework to solve the Euro crisis and reinstall confidence in the markets.
"The stakes have never been higher so if European leaders really are committed to doing everything it takes to save the Euro they must pull out all the stops.
"There is no time for half measures. Leaders have to be enterprising - for example they could lower the rating on the European Financial Stability Facility."
ENDS
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