BARROSO HOPES OLYMPIC ROW WON'T HIT CHINA TRADE - Employers' group IBEC is holding a breakfast at the Conrad Hotel in Dublin, with the main address from the President of the European Commission Jose Manuel Barroso.
Asked about the state of the European economy, Mr Barroso said the EU had to fight inflation, though he added that it was mainly due to high energy and commodity prices and the 'fundamentals' of the European economy were good.
He said the banking system was mainly the responsibility of national regulators, but the Commission was advocating more co-operation between these. But Mr Barroso said that so far, there had been 'no major issue' in the EU banking system.
On the Irish education system, he called for more investment in research and development to meet a 2.5% target set by the Government.
After his visit to Ireland, Mr Barroso is due to visit China. Asked about the controversy over the Olympic Games and Tibet, he said he hoped it would not affect trade between the country and the EU. He said it would be self-defeating to bring politics into trade, but he added that the EU should also be firm in raising human rights issues.
Mr Barroso said the differences between the EU and China should be 'managed'. He said he had been 'speaking frankly' with Chinese leaders, asking whether they wanted the country's rise to be seen as an opportunity or a threat by the rest of the world.
