Barroso worries about lack of confidence of European market



The savings of some European states with economy difficulties are at record level due to the lack of the confidence, which would be the problem of the European economy, European Commission President Jose Manuel Barroso said .

“One of difficulties we have today of Europe is lack of confidence”, Barroso said during his visit to the capital city of Austria.

“What we see in many of our countries is that savings are at record levels, even countries with very important difficulties, and savings are at record levels,” he added, saying that the economy recovery need confidence, and the word “confidence” is not just a beautiful word in politicians’ statement.

He also worried that the youth jobless problem in Europe caused by economy weakness, noting that it might lead to other negative effects on the society besides economy problem.



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