European Union Debt Crisis

Debt crisis in the euro zone could threaten the unity of the European Union. Meanwhile, the assistance offered by developing countries only take little affect in the euro zone.

Europe is in danger, "said Poland Finance Minister Jacek Rostowski before the European Parliament in Strasbourg on Thursday (15 / 9).

If the euro zone divided, the European Union will not be able to survive, "he added. In fact, Rostowski warned of possible "war" on Europe if the crisis weakened the European Union.

Pressure on the euro zone from outside more greater. U.S. Finance Minister Timothy Geithner said the European nations must do more to resolve the crisis.

 Geithner attended the talks between finance ministers of Europe with central bankers in Poland. French President Nicolas Sarkozy, German Chancellor Angela Merkel, and Prime Minister of Greece George Papandreou, held a conference call Wednesday night. Their conversation, among others, to transmit a signal to capital markets calm.

During the meeting, Sarkozy and Merkel again emphasized that they supported Greece. Declared Similarly, Greece will remain an inseparable part of Europe, to deflect the discourse that Greece should be excluded from the euro zone because it no longer obey the rules.

Market stock in Europe and the U.S. rose after assertion of the European leaders.

This statement is supported by President of the European Commission Jose Manuel Barroso. Barroso illustrate that this crisis is the most serious challenge for a generation. "This is a struggle, both for economic and political future of Europe," Barroso said.

EU Economics Commissioner Olli Rehn warned that if Greece had failed to pay or removed from the euro zone will bring a dramatic impact on the social, economic, and political. "Not only for Greece, but also for other member countries, as well as other global partners," said Rehn.

Barroso announced that soon he would submit a proposal on the issuance of bonds with the countries in the euro zone. One way to be able to access the debt market with a more affordable rate.

The same proposal has been rejected by the German discourse. Issuance of these bonds also require negotiations with the EU treaty which is difficult.

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