"The European countries amassed resources to provide emergency financing for those who need, but it is only a shot of drug to stabilize the patient and real treatment has to come," Belka said at a panel discussion at the 2010 World Economic Forum on Europe held here on Monday.

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.

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