Barroso Blaming U.S. for Euro Crisis ‘Foolish,’ Investors Say

European Commission President Jose Manuel Barroso’s claim that the U.S. is to blame for Europe’s debt crisis is “foolish” and further undermines confidence in the region, investors managing more than $400 billion said.

“This crisis did not originate in Europe, this crisis originated in North America,” Barroso told a press conference at the Group of 20 meeting in Mexico late yesterday. “Our financial sector was contaminated by, how can I put it, unorthodox practices from some sectors of the financial markets.”