Barroso stressed that the current situation is very serious and it requires a response now, otherwise the negative consequences will be felt in all corners of Europe and beyond. The situation requires full engagement by everyone at the summit.
This being said, the minimum the EU summit must do tomorrow is to provide clarity on the following:
• measures to ensure the sustainability of Greek public finances;
• feasibility and limits of Private Sector Involvement;
• scope for more flexible action through the European Financial Stability Facility (EFSF);
• repair of the banking sector still needed;
• measures to ensure the provision of liquidity to our banking system.
Press release
© European Commission
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