BRUSSELS, June 5 (Xinhua) -- European Commission President Jean-Claude Juncker said on Tuesday that the future of the euro is the future of the European Union (EU) as a whole and one of the main challenges of the EU is to complete Economic and Monetary Union.

As for Juncker, Europe now has two major challenges.

"The first is to make sure that our recovery benefits everyone. This means that we must address the root causes of social despair, which were exacerbated over the last decade," Juncker said in his keynote speech at the Brussels Economic Forum.

And the second major challenge is the need to complete Economic and Monetary Union.

"The future of the European Union is the future of the euro, and the future of the euro is the future of the European Union as a whole," he said.

Juncker said the euro is now the second most used reserve currency across the world.

"I would like the euro area to speak more firmly and with one voice on the world scene," he said.

The president also noted that Italy is at the heart of Europe and of the euro. "Italy -- yesterday as today -- deserves respect and trust," he said.

His remark comes after the recent political crisis in Rome that rocked financial markets.