Leitl Vehemently Defends Euro Protection Shield

People ♦ Published: December 6, 2010; 00:53 ♦ (Vindobona)

The President of the WKÖ (Austrian Federal Economic Chamber), Christoph Leitl, gives a clear answer to the euro critics: without the euro, Austria would have become a problematic case in 2009.

Leitl Vehemently Defends Euro Protection Shield / Picture: © Wirtschaftsbund / Christoph Leitl

Christoph Leitl, president of the Austrian Federal Economic Chamber (WKO) believes that the critics of the euro protective shield for Ireland are either "stupid or demagogic." The argument that tax money will be wasted is not valid for him. Leitl pointed to Austria’s awkward situation in 2009: U.S. economist Paul Krugman said that due to the intense involvement of local banks in…