- CNTV English - CCTV News

OECD Chief: Europe can be stronger

07-12-2012 05:50 BJT

Watch Video

Play Video

The head of the the Organisation for Economic Co-operation and Development says the current pressure on Italian and Spanish bond markets needs to be dealt with quickly.

Angel Gurria says the European Stability Mechanism must be launched soon, so it can intervene in markets. But he also believes Europe will eventually become stronger from the current crisis.

Angel Gurria, OECD Secretary General, said, "What is important is the following. Europe is saying we created a single currency and we skipped two or three chapters that we should have addressed. One was creating the banking supervisor, creating the fiscal union. Now we are going back and doing that. So in a sense that is what I would call the blessing, the silver lining of this crisis. That Europe is strengthening its institutions and covering those gaps that have been left behind so eventually it will be stronger. In the meantime it is going to be a bumpy road."


Editor:Zheng Limin |Source: CNTV.CN

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program