austria says eurozone deal lacks \firepower\
Last Updated : GMT 18:08:33
Arab Today, arab today
Arab Today, arab today

Austria says Eurozone deal lacks \'firepower\'

Arab Today, arab today

Arab Today, arab today Austria says Eurozone deal lacks \'firepower\'

London - AFP

A summit deal struck by all EU countries except Britain lacks the necessary "firepower" to tackle the underlying causes of the eurozone crisis, the Austrian chancellor said Saturday. "A firewall was created, but it is not strong or large enough to have a big deterrent effect on speculators and the financial markets in the coming years," Werner Faymann told the Salzburger Nachrichten daily in an interview. "The decisions taken lack the necessary firepower to have a sustained effect." He said that an agreement in Brussels on Friday on tighter budget discipline was a "large step on the path towards more independence from financial markets and (sovereign bond) creditors." But he added: "What is missing are financial market regulations, a European rating agency (and) European revenues from financial markets through a tax on financial transactions." The summit ended with 26 of the 27 member states signalling their willingness to join a "new fiscal compact" after Britain vetoed having tough new budget rules enshrined in a modified EU treaty, as pushed by Germany and France. Faymann said that British Prime Minister David Cameron's negotiating tactics at the summit "were in blatant contradiction to the spirit, and the team spirit, of the European Union." The pact, due to be finalised in March, includes plans to impose near-automatic sanctions on countries running excessive deficits and gives Brussels greater powers overseeing national budgets. Leaders hope the pact will convince the European Central Bank to drop its reluctance to use its full arsenal against the crisis, with the Frankfurt institution seen as the beleaguered eurozone's best hope. The 17 eurozone countries signed up to the pact while nine other non-euro EU nations "indicated the possibility to take part in this process" after consulting their parliaments, EU leaders said in a statement. Hungary had originally voiced reluctance, while Sweden and the Czech Republic were undecided.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

austria says eurozone deal lacks \firepower\ austria says eurozone deal lacks \firepower\

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

austria says eurozone deal lacks \firepower\ austria says eurozone deal lacks \firepower\

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Air China suspends flights to North Korea

GMT 10:39 2017 Thursday ,23 November

Air China suspends flights to North Korea
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria opposition meets in Riyadh

GMT 06:23 2017 Thursday ,23 November

Syria opposition meets in Riyadh
Arab Today, arab today Jordanian journalist happy of her career

GMT 17:37 2017 Thursday ,23 November

Jordanian journalist happy of her career
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today Srebrenica women cry tears of joy

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Honda recalls 800,000 minivans

GMT 11:43 2017 Wednesday ,22 November

Honda recalls 800,000 minivans
Arab Today, arab today Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 10:43 2017 Wednesday ,22 November

Cigar-shaped asteroid came

GMT 09:45 2017 Tuesday ,21 November

Visit Jamaica for more than just sun

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday