'ECB to intervene markets to save euro,' European Commission head

European Commission president Jose Manuel Barroso, indicated today that he is confident the European Central Bank (ECB) will intervene on markets in order to save the euro.

“Of course the ECB will do everything necessary to keep the existence of the euro”, Barroso remarked during a speech given in Brussels.

Likewise, Barroso admitted that “when there is a true menace to the European monetary integrity, the ECB has the right to intervene markets, and it will.”

Furthermore, the head of the EC explained that the ECB “is trying to tell all EU members that they can no longer continue developing irresponsible budget policies that only lead to high leverages of indebtedness.”

To end, Barroso ask all EU leaders to “join efforts in order to set mid-long term goals, as one single country has no right to harm other countries as it’s happening right now.”