Worst is over, says EU official
- Published: 16 Oct 2012 at 00.00
- Newspaper section: Business
The worst has passed for the euro-zone debt crisis and member states have shown a commitment to take necessary steps in addressing short-term problems, including fiscal consolidation and competitiveness improvement.
The Nobel Peace Prize awarded to the European Union during its tough times serves as a reminder of the basic purposes of the integration: peace, reconciliation, democracy and human rights, said Olli Rehn, European commissioner for economic and monetary affairs and the euro.
He said he was glad, as a former EU commissioner for enlargement, that the Nobel prize foundation mentioned enlargement in the award announcement to the 27-country group.
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