Eurozone crisis response ‘too little, too late’

THE eurozone’s misery stems largely from a political response which has been “too little, too late” and Europe must find the courage to do what is needed, the EU’s trade chief said yesterday, warning it was now “two to midnight”.

European Trade Commissioner Karel De Gucht slammed political dithering and failure to enforce eurozone rules, urging governments to act as one.

Eurozone leaders meet on October 23 to discuss further aid for Greece, with countries such as Germany and the Netherlands frustrated by Athens’s lack of progress on privatisation and other reforms.