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Share Name | Share Symbol | Market | Type |
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Ashland Inc | NYSE:ASH | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.68 | 0.70% | 98.02 | 98.765 | 97.24 | 97.58 | 364,227 | 00:07:45 |
The European Union is far from being marginalized and a huge majority of Europeans still support European integration, European Commission President Jose Manuel Barroso said Thursday.
"It is up to European officials to make the case for Europe," Mr. Barroso said. He was speaking at the Woodrow Wilson School of Public and International Affairs at Princeton University.
He underlined the need for an "active" and "influential" Europe and said there is a need for a "stronger, democratic Europe" because disintegration would be costly.
Answering a question about the threats from rising nationalism in some European countries, Mr. Barroso said the way to counter it is using political leadership and "more democracy."
Mr. Barroso said more common regulation is needed in Europe because with 27 different economies, there can be up to 27 different sets of regulation. "We may have to give back to member states what they can do better," he said. "We need some common level of regulation. The question is of balance."
When asked about the low level of entrepreneurship in Europe versus the U.S., Mr. Barroso said there are many reasons, including cultural factors and the issue of venture capital. There also is fragmentation of markets in Europe, so where an entrepreneur in the U.S. thinks of the entire country as his market, in Europe, people still think of Spain or Portugal as their market. That said, there are many successful entrepreneurs in Europe, and the situation is improving.
"There are still barriers," Mr. Barroso said. "We need a European dimension."
In a speech earlier, Mr. Barroso said the "reality is that European integration remains the best alternative" and "we need more Europe."
European integration is a dynamic process, and the current crisis has "pushed the European Union to move forward more quickly with reforms that are anyway inevitable," he said, "because we will not have sustainable growth as long as we have unsustainable debt."
It will be important to correct "the flaws in the euro architecture and move towards a genuine economic and monetary union composed of a banking, fiscal and political union," Mr. Barroso said.
Write to Anusha Shrivastava at anusha.shrivastava@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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