"We are indeed now facing a truly systemic crisis that requires an even stronger commitment from all and that may require additional and very important measures", Barroso told the European Parliament in Strasbourg. "Without increased integration, convergence and discipline, we will not be able to sustain a common currency. Either Member States accept it -- to complete the monetary union with an economic union that requires full discipline, full convergence, full integration -- or if they don't accept this we will put at risk our goal", he said.
Barroso said such deeper integration would require changes to the European Union's treaty, and therefore may take some time to achieve. "Any revision of the treaty should be for deeper integration of the euro area but also for a stronger European Union", Barroso stated.
Barroso went on to say that deeper economic integration among eurozone members should not put the remaining 10 members of the European Union at a disadvantage.
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