European stocks closed sharply lower Wednesday over fears that Italian Prime Minister Silvio Berlusconi’s decision to resign spells months of political uncertainty for Italy.
In a speech later Wednesday at the University of Zurich, Van Rompuy also stressed that Brussels’ key “aim is to keep the eurozone together with all the 17 participants on board.”
Beyond guaranteeing stability, it also needs to boost growth.
“Our duty is not only to guarantee the financial stability of the euro area. It is also and at the same time to stimulate economic growth. Another major challenge,” he said.
“In the end, only sustained economic growth can bring back confidence, create jobs and absorb debts,” he added.
At the same time, Van Rompuy also called on the EU’s trading partners to do their bit in preventing the world from sliding back into recession.
“It is the own self-interest of non-euro players that we put the eurozone’s difficulties behind us,” he said.
“But inversely, it is also in Europe’s interest that the US stabilises its public debt situation, or that China stimulates its domestic demand and make its exchange rate more flexible.
It didn't create quite a stir because practically everyone knows about it already.
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