During the plenary session of the European Parliament in Brussels, the Council and Commission make statements on the future of the euro and preparations for eurozone summit and Jerzy BUZEK, EP President, addresses a message of condoleance for the Greek victims of violence in Athens.

Brussels

EU - Greece (T)

statement

plenary session

Eurozone (T)

BUZEK, Jerzy (EPP, PL)

BARROSO, Jose Manuel (PT, EC President)

LOPEZ GARRIDO, Diego (ES)

Future of the euro and preparations for eurozone summit: extracts of the Council and Commission statements

SOUNDBITE (Spanish), Diego LOPEZ GARRIDO, Spanish EU Council Presidency, What the Heads of State and Government must do on Friday is to confirm the financial solution that the EU is offering Greece, in other words to confirm the commitmements made.

SOUNDBITE (Spanish), Diego LOPEZ GARRIDO, Spanish EU Council Presidency, This decision is important in political terms, in historical terms because it is a necessary decision for the credibility of the Euro zone, for the external credibility of the EU as a whole , from a financial point of view, it is important for a fiscal consolidation demanded by the Treaties of the EU, a fiscal consolidation in the Euro zone and the EU as a whole.

SOUNDBITE (English), Jose Manuel BARROSO, President of the EC, Let me first havea word of condoleances for the families of the victims of the violence in Athens today. disagree and protest is a right of citizens in our democratic societies but noothing can justify the recource to violence.

SOUNDBITE (English), Jose Manuel BARROSO, President of the EC, The Greek government has put forward a solid and credible economic package thatwill steer its economy in a sustainable path and restore confidence, itis important that we acknowldege the courage of Mr Papandreou and that his government has shown.

SOUNDBITE (English), Jose Manuel BARROSO, President of the EC, The crisis has once again brought the role of credit agencies to the fore . These agencies play a pivotal role in the functioning of financial markets, but ratings appear to be too cyclical , to rely on the general market mood rather than on fundamentals regardless whether market mood is too optimistic or too pessimistic.

SOUNDBITE (English), Jose Manuel BARROSO, President of the EC, To strengthen the supervision of these actors of Europe wide dimension, the Commission believe they should be put under the direct supervision of the future European Security Market Authority and that is exactly what we will propose. We have also launch a reflection under whether furtehr measures should be needed to ensure the propoer rating of sovereign debt in particular.

SOUNDBITE (English), Jose Manuel BARROSO, President of the EC, Free market consitute the basis for the functioning of succesful economies but free markets need rules and compliance and rules and compliance need to be tightened if a irresponsible behaviour puts at risk what can not and should not be put at risk.

SOUNDBITE (English), Jose Manuel BARROSO, President of the EC, Regulatory authorities and democratic insitutions ultimately the tax payers stabilise the markets in financial crisis, we acted swiftly then and precisely because of that we will act swiftly act on the future so the meesage for this Friday's meeting for Eurogroup Heads of State and governments should be clear and it will be clear, We will be doing what is needed on all fronts.

SOUNDBITE (Polish), Jerzy Karol BUZEK, EP President, We would also join our thoghts and words of condoleances for the events that have taken place today; The events in Greece that you have mentioned, we truly hope that the stalmate in Greece will be ended; this is to the benefit of all of us present here, all MEPs.