EU Commission chief: financial crisis not over yet

FLORENCE, ITALY: EU Commission President Jose Manuel Barroso says Europe's financial crisis has ``swept away'' a decade of progress on the continent.

News reports quote Barroso as saying that debt-stricken Greece and ``attacks on stability'' also show that the crisis is not yet over.

ANSA and Apcom news agencies quote Barroso as saying Saturday that ``the economic and financial crisis has swept away 10 years of growth and progress.'' He was speaking from Florence, where he attended a conference.

Greece came to the brink of bankruptcy this month before receiving rescue loans. The euro has lost about 20 percent of its value in recent months.

Barroso also reportedly said the financial challenges facing Europe are ``unprecedented.''