Barroso: joining the euro is an obligation It's an obligation in the treaties! So this debate about having two different entities, the euro area on one side and European Union on the other, is absurd because these are two groupings, or ensembles that should more or less coincide. There are only two countries with opt-outs: Britain and Denmark. All other member states have a legal obligation, legal not political, to join the euro area. So in the future the eruo area and the European Union will be basically the same. But of course I think it'll be a complete mistake, I repeat, to try to put the EU and the euro area as two seperate entities. That would be the beginning of the end for the European Union."
"In principle, all member states of the European Union should be members of the euro.
Jose Manual Barroso speaking at a public meeting of the European People's Party in Brussels.
http://news.bbc.co.uk/today/hi/today/newsid_9634000/9634878.stm
Wednesday, 9 November 2011
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