EU debt crisis: We are taking all neccessary action

EU Economic Commissioner Olli Rehn has said the eurozone is taking "all neccessary action in order to overcome" the debt crisis.

He was speaking as concern over Greece and Spain lead to continued unrest across the European money markets.

On Francois Hollande's call for an emphasis on growth rather than austerity, Mr Rehn said both were needed if Europe is to recover:

"We need... to stay the course of fiscal consolidation, and to support sustainable growth through reforms and investment."