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European Commission President Jose Manuel Barroso speaks at the EPC debate (European Policy Center) on ` Moving Europe forward` in Brussels, Belgium, 26 June 2012. EPA/BGNES
Steps taken to create a stronger economic and fiscal union in the EU might at a later stage necessitate revisions in the EU Treaties, said European Commission President Jose Manuel Barroso.
Thrusday and Friday EU member states' leaders convene on an European Council to discuss urgent measures to create a stronger union, in order to counteract the creeping financial crisis in the EU.
"For a true economic and currency union, the EU needs a banking union, a fiscal union, as well as further steps towards a political union," argued Barroso in a public statement Tuesday.
The European Commission President added that proposals to be considered at the upcoming Council are geared to a continuing and deepening integration process.
Barroso explained that many steps are to be immediately taken, within the framework of functioning EU Treaties, but the evolution of the Union in the longer term could necessitate revisions in the treaties.
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