国际英语新闻:Barroso calls for comprehensive solution to euro crisis

BRUSSELS, Oct. 12 (Xinhua) --- The European Commission President Jose Manuel Barroso on Wednesday called for comprehensive solutions to current crisis.

Barroso made the speech in European Parliament debate ahead of the European Council Brussels due to take place on 23 Oct.

Barroso said the Commission had just adopted a roadmap to stability and growth, as well as concrete terms and timelines to implement it.

According to Barroso, the roadmap is composed of four parts: aiding Greece, expanding firepower of EFSF and probably ESM, strengthening banking system and consolidating stability and boosting growth.

"To break the vicious cycle of uncertainty over sovereign debt sustainability and over growth prospects, we need comprehensive solutions now," said Barroso.

Barroso admitted that doubt and uncertainty towards Greece might jeopardize stability in the entire eurozone and beyond, so "the time has come to definitively remove these doubts".

He called for paying the sixth tranche of the loans to Greece based on Trioka's concent, deciding a sustainable solution for Greece within the euro area and above all, Greece must fully carry out its programme in a timely manner, with continued support from the Commission's Task Force and maximised disbursement of structural funds focused on growth.

He also said that despite concerted effort made by EU and Member States, contagion risks had not been contained. "To decisively put a stop to this threat that is hampering all our efforts, we must strengthen the euro's firewalls, we must have credible, stronger instruments" Barroso said.

He urged heads of Member States to fully implement July 21 measures, i.e. increasing the flexibility and effectiveness of the EFSF and the future ESM, to allow for precautionary programmes. What's more, he also called for maximizing EFSF as well as accelerating the adoption and entry into force of the permanent ESM to mid-2012.

As for banking system, Barroso stressed that this should be done through the Member States, the European Banking Authority, the ECB and the Commission. The measures should, according to Barroso, include all systemic banks in all Member States, fully disclose risk exposures, entail higher capital ratio after accounting for exposure, and use private sources of capital first.

Barroso admitted that most Member States did not have much room for fiscal stimulus. However, he thought all Member States did have at their disposal means to implement structural reforms, to focus spending on priority areas, and to remove obstacles to growth.

"Growth is within our reach if we can break down the barriers that stop money, services and people flowing through our Union as they should." said Barroso.