José Manuel Barroso, President of the EC, delivered the State of the Union Address 2011 entitled "European Renewal" at the EP plenary session Catherine Ashton, High Representative of the Union for Foreign Affairs and Security Policy and Vice-President of the EC, and Viviane Reding, Vice-President of the EC in charge of Justice, Fundamental Rights and Citizenship, were notably present on this occasion.The President stressed that there were solutions to the economic crisis, which he also presented. He outlined that the EC had adopted on the same day a proposal for the Financial Transaction Tax and added that also the banking sector would give contribution to the society.
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