EU commission issues new debt warning

The president of the European Commission, Jose Manuel Barrosso, has described the euro-zone debt crisis as the "greatest challenge" in the EU's history.

Speaking in the European Parliament in Strasbourg, he said Europe needed greater economic integration in the future and he appealed for patience over the Greek debt crisis saying it is not a sprint but a marathon.

Mr Barroso also called for a new tax on financial transactions - a measure Britain opposes unless it is adopted globally.

Hugh Schofield reports.