State of the Union address 2011 by President Barroso

European Commission “I will ask all G20 leaders to support a global financial transaction tax, part of which could go to the poorest people in the world.”

As part of the YouTube World View series of interviews with world leaders President Barroso participated today in a live Interview, broadcasted in 11 languages. Economic issues dominated the top questions. The most popular question was about what went wrong in Greece and how to boost the Greek economy. President Barroso answered that “One country – like one family or like one company – can not live long time above its means. And Greece was doing precisely that.” He also underlined that in the future there will be more integration of national budget and economic plans and also sanctions for those who do not comply with the rules. The President once again reiterated that we need a financial transaction tax so banks make a fair contribution to the costs of crisis and indicated that revenue from the tax could be used to fund development aid. The interview was live transmitted on http://www.youtube.com/worldview, Europe by Satellite and Euronews TV

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