He said longer term problems have to be solved, such as fiscal sustainability and growing divergence in the euro zone.
The commission has been pushing for better economic coordination in the euro zone so as to redress macroeconomic imbalances in the single currency club.
Countries with large current account surplus, notably Germany, were urged to consume and import more, while Greece and other indebted eurozone members, which have been in the red for years, needed to improve their economic competitiveness.