Barroso: EU recovery fragile but confidence in economy improving

FXStreet (Łódź) - European Commission President José Manuel Barroso said today at the European Parliament in Strasbourg that the recovery in the EU remained fragile and uneven but that confidence in the EU economy has been improving steadily.

Barroso pointed out that the situation in Greece and Cyprus has stabilized. He added that the Hellenic EU presidency was a fruitful one, with its highlight being the completion of the banking union.

Former Luxembourg Prime Minister Jean-Claude Juncker will replace Barroso as European Commission president on November 1.