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"We can and we must do more," says Mr Barroso. (Photo: europa.eu)

Brussels scolds EU states for resisting financial regulation

European Commission President Jose Manuel Barroso on Thursday (9 October) rejected accusations that Brussels has failed to act quickly to the ongoing global financial turmoil, saying it was in fact member states that showed reluctance to stronger regulatory integration at EU level.

"We all know that before this crisis, there was no chance of introducing more European regulation. Some of the most relevant member states in the economic and financial dimension would not ever have accepted ...

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"We can and we must do more," says Mr Barroso. (Photo: europa.eu)

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