Barroso calls for swift transnational action

In the left-liberal daily El País José Manuel Barroso, President of the European Commission, calls for a concerted European strategy in the face of the financial crisis: "Later there will be time to analyse the situation. What is important now is that the political decision-makers find the right answers: that they react to the acute crisis, protect the citizens' savings, ensure that companies have enough credit at their disposition and create a better system of control for the future. ... Now is the time to move beyond national perspectives. If this crisis has made one thing clear it is that today the international financial markets are so tightly interwoven that national borders hardly matter any more. If banks and financial institutes function at an international level, those who control the system and protect the interests of their customers must also be able to take swift action at a transnational level."

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