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Austrian President Dr. Heinz Fischer - banks should also make contribution to costs of the crisis

Published: June 10, 2010; 00:00 · (Vindobona)

Austrian President Dr. Heinz Fischer said today at the IIF conference in Vienna "a developed social system and equitable distribution of income and wealth for the economic efficiency and political stability of a country are particularly important".

Austria had benefited from the European integration process and the opening of the East, although the financial crisis also exhibited the risks of a high degree of openness. In this context, the Austrian Government responded quickly with the rescue package for the banks and the economic stabilization measures. However the consequence of increased budget deficits needs to be considered…

This article includes a total of 193 words.

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