3E Intelligence

EU Commission President Barroso probably needs to be better briefed about the financial turmoil on the global stock markets. It seemed like he had no cue when he answered my question today in a press conference on the progress of the Lisbon reform programme. “Alll is well with the world”, seemed to be what he was thinking when he answered that the commission does not see any reason to change its economic outlook.

Someone who clearly does not agree with Mr Barroso is FT columnist Wolfgang Munchau, who explains on his blog in five clear points why “this is a crash, not a correction”. A crash will have no implications for Europe, Mr. President?

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