Europe on tough road to reform: Barclays

Bank CEO calls opening up of China capital market 'extremely helpful'

Reform of Europe's financial system and economy will follow a thorny path, even though the Greek election pulled the country back from the brink of exiting the euro, according to Bob Diamond, chief executive officer of UK banking giant Barclays Plc.

And he warned that banks in the eurozone need to focus on increasing liquidity and lowering leverage to avoid the potential risk of systemic collapse.