EU finance chief promises Europe recovery plan

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EU Finance Commissioner Michel Barnier said Thursday he would offer an economic recovery plan for the whole of the European Union in October.

He told French television channel LCI he was working "with the financial services at the request of (the head of the European Commission Jose Manuel) Barroso on a recovery plan for the internal market" of the EU.

"In this big market of half a billion consumers with millions of small and medium businesses, if we act together, if we break down certain barriers, by making exchange among us easier and fairer... we could achieve growth of one or two percent on our own," he said.

"That's what I'm going to propose with what is called the Single Market Act from October."

European Union leaders were in Brussels on Thursday for an EU summit focussed on tackling Europe's financial and economic woes.

© 2010 AFP

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