The crisis facing the euro area is systemic and it requires its members a greater commitment than they are now showing, said Wednesday José Manuel Barroso.

"Today we are facing a crisis that requires a truly systemic even greater commitment of all major and additional measures", said President of the European Commission to the European Parliament.

He added that a further fiscal integration in the euro area was needed, without creating divisions with the 10 EU countries over 27 who are not members of the single currency.

Once this integration budget will be in place and new tools of governance have been decided, European bonds – seen by many economists as a solution to the crisis – will then become "natural," he further said.

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• A Ecofin again under the sign of the crisis
• Redemption of debt preferred to save Greece
• Portugal denies aid before the budget vote
• The euro area awaits the initiative of the Berlin-Paris tandem