Austria calls for EU to unify stand ahead of G20 summit

Austria calls for EU to unify stand ahead of G20 summit

Austrian Vice Chancellor and Foreign Minister Michael Spindelegger Friday called for a unified stand of the European Union (EU) on resolving the debt crisis ahead of the Group of 20 (G20) summit early next month.

At the Main Committee of the National Council, Spindelegger said that if the European Council failed to reach an agreement, another summit must be held next week because the EU have to synchronize steps at the G20, which is to be held in Cannes, France on Nov.3-4.

"A number of issues currently still have not met definitive agreements among the EU countries," said Spindelegger.

He also believed that Greek insolvency shouldn't be the only topic of the discussion, it should also focus on how the EFSF (European Financial Stability Facility) will be able to benefit the capital allocation and operational security of banks.

President of Austrian Chamber of Commerce Christoph Leitl said in a statement that economic and social policies must be further coordinated in the eurozone in order to protect the common currency.

The Austrian Industrial Association (IV) pointed out that all politicians in the eurozone must take concrete measures to "soon restore confidence in Europe and the euro", which is "the requirements that companies and financial markets can and will continue to invest in Europe".

Editor: yan

English.news.cn   2011-10-22 02:44:29 FeedbackPrintRSS
VIENNA, Oct. 21 (Xinhua)