STRASBOURG, France, Nov. 18 (Xinhua) -- European Commission President Jose Manuel Barroso said here Tuesday that European Union (EU) member states need coordinated measures in order to prevent an economic crisis.
"We need to apply the same methods in real economy as we did successfully when the financial crisis exploded. We need to find clear principles and have coordinated measures at EU level," he told a plenary session of the European Parliament.
"The key point is to have coordination between all the EU member states together with EU institutions."
Barroso stressed the importance of limiting impacts of the financial crisis on EU citizens by adopting timely, targeted temporary measures.
The first priority of the European Commission's 2009 work program will be growth and jobs, said Barroso.
"We are going through exceptional times, and that calls for exceptional measures," he said.
He asked the European Parliament to approve quickly the commission's proposals on bank guarantees and regulation of credit rating agencies.
The commission, the executive body of the EU, will adopt specific measures in 2009 to consolidate the regulatory framework of the financial sector in the EU.
Special Report:Global Financial Crisis
