Mr Verhofstadt, a former Belgian PM, made his statements the day before Mr Barroso is due to address the European Parliament to outline the EU's policy plans for the coming months.
More and more European MP's are not happy with the way the European Commission and the European government leaders are handling the crisis. Mr Verhofstadt wants to see more determination and suggested creating of the function of a special Commissioner to outline the EU's economic policy.
Speaking to the VRT, Mr Verhofstadt said that "it's high time for Mr Barroso to put forward a global plan to fight the EU's debt crisis." Asked whether he thinks that Mr Barroso has failed, Mr Verhofstadt answered "I wouldn't say that he failed. But we have seen that the present approach is not sufficient."