European Commission President Jose Manuel Barroso on Thursday welcomed the approval in the U.S. senate of the US$700 billion financial industry bailout. «I welcome that decision,» said Barroso after the passage in the Senate. The U.S. House will seek to pass it by Friday, just days after lawmakers there rejected an earlier version, sending markets into a nosedive, Associated Press reported. «We need global effort to inject confidence in the financial markets and the United States, of course, have a major responsibility,» Barroso said.
