The European Parliament called for an EU road map to exit the economic and financial crisis in a resolution passed on Thursday. It advocates recapitalising European banks, further harmonising national tax systems and issuing Eurobonds, said an EP press release.
The EU Parliament believes that bank recapitalisation should be carried out at EU level and not be based on national priorities. The reform of European financial market regulation should also be completed, to make EU economy better able to withstand future crises, and EU Member States should harmonise their fiscal systems and take common measures to combat tax fraud, says the resolution.
EU Commission President Jose Manuel Barroso said Wednesday that that EU bailout fund, the so-called European Financial Stability Facility, EFSF, should be used to recapitalized banks if government aid is not available