According to the recent news, the European Union is in “survival crisis” over the eurozone’s debt problems, the EU president has warned. Speaking hours before eurozone ministers meet to address threats to the bloc’s economic stability, Herman Van Rompuy said that if the euro failed, so too would the EU.
Members such as the Republic of Ireland and Portugal are under fresh scrutiny. Questions have been raised over whether they can manage their debt without help from EU funds. Mr Van Rompuy said he was “very confident” the problems could be overcome.
But he added: “We all have to work together in order to survive with the eurozone, because if we don’t survive with the eurozone we will not survive with the European Union.”
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