FRANKFURT (MarketWatch)
European Union Council President Herman Van Rompuy
on Monday defended efforts by euro-zone leaders to resolve the region's debt
crisisbut said battling unemployment should be the region's top priority
"Market players or rating agencies sometimes consider our response as incomplete
or insufficient.
Yet real progress has been made in reshaping the euro area, in
order to build on its fundamentals, which are on average sound," Van Rompuy said
in a statement released after a meeting with Italian Prime Minister Mario Monti
Ratings firm Standard & Poor's on Friday downgraded nine euro-zone nations,
including Italy
Van Rompuy said Europe's jobs growth should be Europe's
"foremost concern," warning that the region's economic slowdown risks adding to
the 23 million already unemployed.
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