EC: Press conference by José Manuel BARROSO, President of the EC and Olli REHN, Vice-President of the EC in charge of Economic and Monetary Affairs and the Euro

SOUNDBITE (in English) José Manuel Barroso; Reducing dept and deficit is essential to build confidence and cut borrowing costs. Every Euro spent on interest payment is a euro less for job and investment. Secondly, to regain competitiveness, there must be acceleration in structural reforms. There is work to do, both at European and national level. Members States should reduce taxes on labour to stimulate job creation. This is a theme that we will return to in the country specific recommendations at the end of this month.