European Commission President Jose Manuel Barroso has called for a "fight for European integration", during a debate on the eurozone crisis on 14 September 2011.
The debate was held following a turbulent summer on the EU's financial markets with growing fears that Greece will default on its debts, despite two loan packages from the EU, meaning that it could be forced to exit the eurozone.
Worries about the future of the eurozone have led to sharp falls on stock markets across the continent.
Mr Barroso said there needed to be a "federalist moment", saying that intergovernmental co-operation between EU governments had failed.
He told MEPs "monetary union cannot function on the basis of unanimity, where a Eurosceptic fringe can block decisions. That is just not credible".
The chief economist of the European Central Bank, Juergen Stark, recently quit his position, igniting signs of division over how to deal with Europe's debt crisis.
There is a divide between those who are keen to keep the eurozone together, and those who feel it may be in the long term interest if countries are allowed to default, a position supported by British conservative group leader Martin Callanan.
Portugal, Spain and Italy have all had difficult financial summers, with Italian prime minister Silvio Berlusconi struggling to pass certain aspects of his government's austerity measures.
Italy currently faces a debt mountain of 1.9 trillion euros (£1.7tn).
Mr Barroso used the debate to reiterate his calls for MEPs and national governments to reach an agreement over a new package of economic governance, such as greater scrutiny of debt levels.
However UKIP leader Nigel Farage accused the EU of undermining democracies in countries such as Greece.
"You will cause a revolution," he warned Mr Barroso.
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