European Commission chief Jose Manuel Barroso said today the European Union faces an uncertain future if it is unable to reinvent itself, UPI reported. The EUobserver said Barroso detailed in a 41-page policy document Thursday how improving European banks while implementing stricter financial regulations could help the European Union recover from the worldwide economic downturn. "The next months and years will determine how quickly and strongly we will recover from the crisis and how much influence we have in shaping a new world order," Barroso said in the document. The European Commission official also called for increased commission surveillance of public finances along with improved economic policy coordination to aid the recovery effort. Barroso said in the document he wants the 27-nation organization to implement a sustainable fisheries policy, while improving the entrepreneurial culture of Europe. His plan also calls for the threat of climate change to be addressed in EU policies, the EUobserver said.
